Reinvention
Billionaire David Tepper’s Next Play: Private Equity With a Side of Sports
- Tepper backs investment startup with $800 million in assets
- Firm is being run by former Merrill merger head Jeffrey Kaplan
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Hedge fund manager David Tepper, best known for his stock-picking prowess, is devoting a piece of his personal fortune to private investing.
Tepper -- worth about $14.5 billion -- has become the founding investor for a private equity firm that plans to invest in growth companies, special situations and the media and sports sectors, according to regulatory filings and a person familiar with the matter.