David Tepper’s Appaloosa Management plans to return all outside capital to investors and turn his hedge fund firm into a family office, a decision industry observers had been predicting for some.
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Hedge Fund Titan David Tepper Is Planning to Return Investors’ Money Appaloosa LP will turn into a family office managing his personal wealth
David Tepper, considered arguably the greatest investor of his generation, is preparing to return clients’ money and convert his hedge-fund firm to a family office, according to reports.
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A spokesman for Appaloosa said the firm hasn’t set an exact time table for the return of all outside money. Appaloosa is among a small number of hedge funds that has regularly returned some investor money over the last decade in an effort to manage their size and returns.
Billionaire David Tepper is planning to return money to investors, following other marquee names who quit the struggling hedge fund industry to manage their own capital. Tepper, 61, who founded.
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David Tepper. David Tepper Is Planning to Return Investors’ Money. The Wall Street Journal. – Juliet Chung. Famed hedge-fund manager David Tepper plans to turn Appaloosa LP into a family office managing his personal wealth as he spends more time focused on running the Carolina Panthers, his professional football team, said people familiar with the matter.