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Appaloosa Management is an American hedge fund founded in 1993 by David Tepper and Jack Walton specializing in distressed debt. [4] Appaloosa Management invests in public equity and fixed income markets around the world.
Heatmaps of the top 13f holdings and a list of the largest trades made by Appaloosa, the hedge fund managed by David Tepper.
- Early Life and Education
- Appaloosa Management L.P.
- Investing in Debt
- The Crash
- Family Office
- The Bottom Line
David Tepper was born in Pittsburgh, Pennsylvania on Sept. 11, 1957. He graduated from the University of Pittsburgh in 1978 with a bachelor's degree in economics and earned an MBA in 1982 from Carnegie Mellon University. Tepper's early career in finance began with positions at Equibank, Republic Steel, and Goldman Sachs.
In 1985, David Tepper joined Goldman Sachs as a credit analyst on the high yield debt team in New York. As a head trader, Tepper remained at Goldman Sachs for seven years. A specialist in distressed debt, particularly bankruptcies and special debt situations, Tepper left Goldman Sachs in 1993 to launch Appaloosa Management L.P. with his former coll...
As a limited partnershiphedge fund, Appaloosa brought together a small group of wealthy investors. Appaloosa used high-risk methods, such as investing with borrowed money, to realize large capital gains. Targeting the debt of companies in distress, Appaloosa's first investment was in the now-bankrupt Algoma Steel. Appaloosa would continue to bet an...
David Tepper's aggressive style and confidence are often seen as his best traits as a hedge fund manager. Following the 2008 subprime mortgagecrash, when panicked sellers were driving down the value of financial institutions like Bank of America and Citigroup, Tepper was investing in them. The hedge fund tycoon purchased nearly $2 billion in face v...
In 2019, David Tepper announced that Appaloosa would eventually move to a family office, continually returning capital to its investors each year. At the time, Appaloosa managed $14 billion worth of assets, with 70% of that total belonging to David Tepper. As the fund moves into a family office, Appaloosa will return all capital balances to every i...
David Tepper is known as one of the leading hedge fund managers of his generation. He is considered an expert in distressed debt investment. Garnering steady returns for client investors since its 1993 inception, Tepper's Appaloosa fund has compounded at more than 25% per year.
- Julia Kagan
5 days ago · David Tepper, arguably the greatest hedge fund manager of his generation, founded Appaloosa Management in 1993. Tepper has been returning client assets over the last decade, and...
- President And Founder
Jun 2, 2024 · Together with Jack Walton in 1993, David Tepper co-founded Appaloosa Management—a hedge fund recognized for its command over distressed debt investment strategies.
May 26, 2015 · Twenty years later, Tepper has turned Appaloosa into one of the most successful hedge fund firms in the world, appearing on Alpha’s Hedge Fund 100 ranking for all thirteen years of its...
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Appaloosa Management is one of the most successful hedge funds and is managed by David Tepper. Although many of Appaloosa's investments such as distressed debt and other fixed income are not disclosed via 13F filings, the fund's equity portfolio has proven to be a source of excellent returns.