Saturday, 28 November 2015
Last updated 20 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…