The LSE Directory / Hedge fund managers
David Alan Tepper (born 1957) is the founder of Appaloosa Management and one of the most decorated hedge fund managers in history for crisis-opportunity investing. He founded Appaloosa in 1993 after leaving Goldman Sachs, where he was a senior credit analyst. Appaloosa specialises in distressed debt, credit, and global macro, and Tepper has built a reputation for making large contrarian bets at moments of maximum fear. The most celebrated of these was in 2009: Tepper aggressively bought distressed bank preferred stocks and bonds at the depths of the financial crisis, particularly Citigroup and Bank of America securities, generating approximately 133% returns for Appaloosa in 2009, one of the largest single-year returns ever recorded by a major hedge fund. He was the highest-earning hedge fund manager in multiple years (earning approximately $7.5 billion in 2009 alone according to AR Magazine). Tepper also owns the Carolina Panthers (NFL) and Charlotte FC (MLS), having purchased the Panthers franchise for $2.275 billion in 2018.
