Monday, 30 March 2015
Last updated 9 hours ago
May 6 2011 | 1:40pm ET
An Appaloosa Management analyst is launching a hedge fund of his own, with an assist from his boss, David Tepper.
Tepper has pledged a portion of his billions to Nokota Management, the firm founded last month in New York by Matthew Knauer, a senior analyst at Appaloosa, and Mina Faltas, a former analyst at Viking Global Investors, Reuters reports. Nokota—like Appaloosa named for a breed of horse, though in its case a feral one—will likely be a technology, media and telecommunications shop, as those are the sectors covered both by Knauer and Faltas at their previous jobs.
In March, Tepper indicated that Appaloosa may be getting too big, and said the $16 billion firm plans to begin returning some money to investors, including its own partners. He added that those partners were considering investing some of that returned capital in other hedge funds.
It is unclear how much Tepper will invest in Nokota.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…