Tepper Posts 7% Hedge Fund Gain While Tackling Football Deal
- Appaloosa is said to have bet against Treasuries this year
- Tepper agreed to pay a record $2.3 billion for the Panthers
Hedge Fund Titan Tepper Scores $2.3 Billion Deal for Carolina Panthers
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David Tepper, who won the bidding contest for the Carolina Panthers this week, has been beating most of his hedge fund rivals too.
His Appaloosa Management returned about 7 percent this year through April for clients paying a 2 percent management fee and 25 percent of profits, according to a person familiar with the matter. That tops the slight gain of the Hedge Fund Research multistrategy index and the broader stock market, which fell.