Thursday, 18 December 2014
Last updated 16 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.