Hedge Fund Manager David Tepper Lays Out Family Office Plan

October 7, 2019 | Hedge Funds, Investments, News

Appaloosa Management will start returning capital in January 2020.

David Tepper, the billionaire hedge fund manager, will soon return capital to Appaloosa Management investors as he shifts to a family office.

However, Tepper will continue to manage money for 15 lucky investors. 

Appaloosa Management will start returning investor capital in 2020, according to a report from Bloomberg. The 15 investors will keep about $1.25 billion to $1.5 billion with the firm. The rest of the money will comprise capital owned by Tepper. 

The news confirms previous reports that Tepper was thinking about exiting the fund industry. In May, Bloomberg reported that Tepper had these considerations. Five months later, the plan will return 90% of investors’ capital, starting in January. The bulk of the money remaining will be returned by the spring.

Tepper has a net worth of $11.4 billion. His money comprises 70% of Appaloosa’s AUM of $14 billion. He founded the firm in 1993.

What Next for David Tepper?

In 2016, Tepper made headlines when he helped start the chorus line of money managers who departed high-tax states for lower-tax locales.

Tepper relocated from New Jersey to Florida. Tepper’s tax bill was so critical to the State of New Jersey that countless media outlets covered his departure with fervor. 

He has domiciled in Florida. Many people now expect that he will pour more time and energy into the Carolina Panthers. He purchased the NFL team for $2.275 billion in May 2018.

Furthermore, that figure was the highest in NFL history.

[Related: Hedge Funds Bet Big on Caesars Takeover]


Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.

Alt Insights

January 29, 2020

Venture Capital: The Kobe in “Bryant Stibel & Co”

Venture Capital: The Kobe in “Bryant Stibel & Co”

Latest Alternative Investment News

Digital Assets: A Cloud-based, Turnkey Crypto Exchange Solution From Binance
February 18, 2020     Digital Assets

Binance, which is the world’s largest crypto exchange by trading volume, announced Monday the launch of its Binance Cloud. The Binance Cloud is an all-in-one solution for crypto market participants…

Venture Capital: Polychain Capital to Raise $200M To Back Crypto Startups
February 18, 2020     Digital Assets, News, Venture Capital

Polychain Capital’s second venture fund, which targets a war chest of $200 million, opened at the beginning of 2020. The crypto venture fund is accepting minimum investments of $1 million…

Artificial Intelligence: Margrethe Vestager to Announce the EU’s New Regulations For AI Today
February 18, 2020     Artificial Intelligence, Latest News, News

The EU’s rules set to be announced today will thrust on enhancing the region’s competitiveness but will do so with an emphasis on transparency, oversight, and protection of privacy.

Liquid Alternatives: American Century May Unveil the Very First Non-Transparent ETFs
February 18, 2020     Latest News, Liquid Alternatives, News

Two American Century funds may be the first to test waters as “actively managed” ETFs. Having received the SEC’s approval for its final key filing, Cboe BZX Exchange, Inc. is…

Scroll to Top