| 词条 | Appaloosa Management |
| 释义 |
|name = Appaloosa Management |logo = |foundation = 1993[1] |key_people = David Tepper, Founder and President Michael L. Palmer, Chief Financial Officer Jeffrey L. Kaplan, Chief Operating Officer[1] |location_city = Miami Beach, Florida[3] |location_country = U.S. |type = Limited Partnership[1] |industry = Investment Management |area_served = Worldwide |aum = 14 Billion[5] |num_employees = |homepage = http://amlp.com |footnotes = |intl = }}Appaloosa Management is an American hedge fund founded in 1993 by David Tepper and Jack Walton specializing in distressed debt.[6][2] Appaloosa Management invests in public equity and fixed income markets around the world.[1] HistoryIn 1993, David Tepper and Jack Walton founded Appaloosa Management, an employee-owned hedge fund, in Chatham, New Jersey.[2][10] Throughout the 1990s, the firm was known as a junk bond investment boutique,[3] and through the 2000s it was known as a hedge fund.[4] 2002 Conseco & Marconi Corp.In the fourth quarter of 2002, Appaloosa Management returns were heavily a result of junk-bond and distressed debt bets in Conseco and Marconi Corp. that the market was bottoming out.[13] 2007 DelphiAssets under management in 2007 were $5.3 billion.[5] The Financial Times reports the company has "attracted interest for its large ownership position in Delphi, the bankrupt car parts supplier, and its clashes on whether management has the shareholders best interests in mind or those of GM and the UAW."[2]2008 financial crisis through 2011Appaloosa survived the financial crisis of 2008 with relatively few investor redemption orders.[6] From 2009 to 2010, Appaloosa Management's assets under management grew from $5 billion to $12 billion.[7] In November 2010, the New York Times reported total assets under management of $14 billion.[5] In 2010, it was reported that since 1993 Appaloosa Management had returned $12.4 billion to clients—ranking it sixth on a ranking of total returns to clients by managers since inception.[8] In September 2011, a Delaware bankruptcy court found that Appaloosa Management is one of four hedge funds that had played a role in Washington Mutual’s restructuring which might have received confidential information that could have been used to trade improperly in the bank’s debt.[9] In 2011, the company was awarded the Institutional Hedge Fund Firm of the Year award.[10] In January 2016, Appaloosa's headquarters were relocated to Miami Beach, Florida. [11] Investment strategyAppaloosa Management's investments focus on undiversified concentrated investment positions.[6] Appaloosa invests in the global public equity and fixed income markets with a focus on "equities and debt of distressed companies, bonds, exchange warrants, options, futures, notes, and junk bonds."[1] According to BusinessWeek, the firm's client base consists of high-net-worth individuals, pension and profit sharing plans, corporations, foreign governments, foundations, universities, and other organizations."[1][2] Investors commit to a locked period of three years during which their withdrawals are limited to 25 percent of their total investment.[6] Products and performanceAppaloosa Management manages four investment vehicles: the offshore Palomino Fund LTD, an offshore and onshore version of its Thoroughbred fund, and its flagship fund Appaloosa Investment.[12][13] A complete list of current holdings can be found [https://fintel.io/i/appaloosa-management-lp here]. Palomino FundThe Palomino Fund from its inception in 1995 to 1998 had a 25 percent return. After Russia defaulted, the fund lost 49 percent of its value between February to September 1998.[14] The fund returned –26.7% percent in 2008 and 117.3 percent in 2009. The company was ranked by Bloomberg Markets as the top performing fund of any hedge fund manager managing over one billion dollars.[6] Appaloosa Investment IIn 2001, the fund was up 67 percent followed the next year losing 25 percent. In 2003 the fund saw 149 percent returns for investors.[15] AdministrationThe company leaders include: David Tepper, Founder and President,[1] Michael L. Palmer, Chief Financial Officer,[1] and Jeffrey L. Kaplan, Chief Operating Officer.[1] References1. ^1 2 3 4 5 6 7 8 {{Cite web | title = Appaloosa Management L.P.: Private Company Information - BusinessWeek | accessdate = 2013-04-17 | url = http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=2240270}} {{Hedge funds}}2. ^1 2 3 {{cite web |url=http://media.ft.com/cms/7705e2e6-f735-11db-86b0-000b5df10621.pdf |title=100 Hedge funds to watch |publisher=www.ft.com |accessdate=2010-04-22 }} 3. ^{{cite news|last=Middleton|first=Timothy|title=In Junk Bond Funds, Risk Often Paid Off|url=https://www.nytimes.com/1997/01/05/business/in-junk-bond-funds-risk-often-paid-off.html|accessdate=14 August 2011|newspaper=New York Times|date=January 5, 1997}} 4. ^{{Cite news| url = http://www.institutionalinvestor.com/Article/2464097/Hedge-Funds-and-Alternatives-Archive/David-Teppers-Appaloosa-Management-Among-First-Quarter-Hedge-Fund-Leaders.html#.U9QqZfldUQM |title=David Tepper’s Appaloosa Management Among First Quarter Hedge Fund Leaders|author= Stephen Taub|publisher=Institutional Investor |date = April 13, 2010}} 5. ^1 {{cite news|title=The Rankings The hedge-fund elite.|url=http://nymag.com/news/features/2007/hedgefunds/30342/|accessdate=25 July 2011|newspaper=New York Magazine|date=Apr 9, 2007}} 6. ^1 2 3 {{cite web|last=Teitelbaum|first=Richard|title=Bullish at the Brink|url=http://www.opalesque.com/files/BloombergRichestHedgeFunds.pdf|work=February 2010|publisher=Bloomberg Markets|accessdate=11 July 2011}} 7. ^{{cite news|last=Allen |first=Katrina Dean |title=Absolute Return Billion Dollar Club |url=http://www.absolutereturn-alpha.com/Article/2400627/Billion-Dollar-Club.html |accessdate=26 July 2011 |newspaper=AR Absolute Return - Alpha |date=March 1, 2010 |deadurl=yes |archiveurl=https://web.archive.org/web/20101227062958/http://www.absolutereturn-alpha.com/Article/2400627/Billion-Dollar-Club.html |archivedate=27 December 2010 }} 8. ^{{cite news|title=Soros, Paulson Post Biggest Returns Since Inception|url=http://www.finalternatives.com/node/13813|accessdate=14 August 2011|newspaper=FIN Alternatives|date=September 13, 2010}} 9. ^{{cite news| url=https://dealbook.nytimes.com/2011/09/14/judge-says-hedge-funds-may-have-used-inside-information/?scp=2&sq=washington%20mutual&st=cse | work=The New York Times | first1=Charles | last1=Duhigg | first2=Peter | last2=Lattman | title=Judge Says Hedge Funds May Have Used Inside Information | date=14 September 2011}} 10. ^{{cite news|last=Gravrand|first=B.|title=Institutional Investor’s 9th Annual Hedge Fund Industry Awards – Winners|url=http://www.opalesque.com/IndustryUpdates/1801/Institutional_9th_Annual_Hedge_Fund_Industry_awards180.html|accessdate=26 July 2011|newspaper=Opalesque|date=23 June 2011}} 11. ^1 {{cite news|last1=Frank|first1=Robert|title=Billionaire to save hundreds of millions from Florida move|url=https://www.cnbc.com/2016/04/06/billionaire-to-save-hundreds-of-millions-from-florida-move.html|accessdate=29 November 2017|publisher=CNBC|date=April 6, 2016}} 12. ^1 2 {{cite news|last=Raghavan|first=Anita|title=For Tepper, Washington Is an Investment Guide|url=https://dealbook.nytimes.com/2010/11/09/for-tepper-washington-is-an-investment-guide|accessdate=25 July 2011|newspaper=New York Times|date=November 9, 2010}} 13. ^{{cite news|last=Richard|first=Teitelbaum|title=Tepper Turns Panic to Profits With $6.5 Billion Hedge Fund Gain|url=https://www.bloomberg.com/news/2011-01-06/brownstein-s-mortgage-metaphysics-drives-50-gain-in-top-global-hedge-fund.html|accessdate=27 July 2011|newspaper=Bloomberg|date=January 4, 2010}} 14. ^1 {{cite news|last=Burton|first=Katherine|title=Simons, Mandel Post Biggest Drop in Hedge Fund Slump|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=a4i5haSt2ECw|accessdate=26 July 2011|newspaper=Bloomberg|date=April 8, 2008}} 15. ^1 {{cite news|last=Taub|first=Stephen|title=The Bucks Stop Here Alpha|newspaper=Alpha|date=July 2004}} 1 : Hedge fund firms of the United States |
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