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  1. 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.

    • 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
  2. Jun 2, 2024 · David, by establishing and overseeing Appaloosa Management—a prominent hedge fund renowned for its focus on distressed debt investments—has amassed wealth through consistent gains for his investors.

  3. Nov 15, 2023 · David Tepper's hedge fund Appaloosa Management left positions in Apple (AAPL) and China-focused ETFs in the third quarter while raising its bets on other tech giants like Amazon (AMZN),...

  4. Oct 5, 2019 · Hedge fund manager David Tepper will continue to manage money for 15 investors and return the rest of Appaloosa Management ’s outside capital as he begins to convert it into a family office,...

  5. His hedge fund, Appaloosa Management, has made billions of dollars over the years, earning returns of more than 28% annually (and 23%-25% net returns after fees).

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  7. May 1, 2019 · In a letter in June sent jointly with the hedge fund Senator Investment Group, Appaloosa urged Allergan to overhaul its leadership, and slammed a strategic review plan outlined by Mr...

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