Connect with us

Hi, what are you looking for?

Jewish Business News

Money

David Tepper Set To Take a part In Stephen Weiss’s “Fund of Funds”

Tepper, billionaire founder of Appaloosa Management is considering  investing around  $25 million of his personal capital in Weiss’s Short Hills Capital fund.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Key Speakers At The Robin Hood Foundation Investors Forum

David Tepper /Getty

David Tepper,  founder of the  highly profitable Appaloosa Management hedge fund, understandably  has more than his share of followers.

Tepper has created a buzz in the investment market by expressing a very serious interest in investing in the “fund of funds” currently in the advanced stages of being  established by Stephen L. Weiss,   a veteran of  the Wall Street investment scene, who intends to have his fund up and running by March the first.

According to market commentators, the fund will now get under way thanks to Tepper’s investment as well as some funding from Weiss as well as a few  investors, whose identity remain private for the time being.

Over the years Tepper has  been known  to invest  in a number  of single-manager fund launches, although he generally prefers to invest in funds established by former employees of Appaloosa, with his most recent being an undisclosed investment in Alder Hill Capital, founded  by Eric Yip, a  former senior analyst with his company.

Tepper’s interest in investing in Weiss’s company, according to industry analysts, may stem from the fact that Weiss has long been based in  Short Hills, New Jersey, where  Appaloosa  have their headquarters.

Short Hills is currently staffed by Weiss himself, backed up by two analysts and two operations staffers, with plans in place to take on a chief financial officer for the fund.

 

Stephen L. Weiss began his professional career  as a tax attorney, before moving into the world of financial management, beginning at Oppenheimer & Co., leaving them to joining by Warren Buffett  at Salomon Brothers, working in close cooperation with  Wall Street’s largest  investment funds.

Weiss   was appointed co-manager of  Salomon Brothers’ 500 person Global Equity Research Department where he is credited with having  developed Wall Street’s first truly global research engine, combining  the company’s pulled  research from Europe, Asia, Latin America as well as  the United States.

Weiss left Salomon Brothers  to  be a joint manager with  SAC Capital, later leaving them to join  Lehman Brothers where he  is recognized as building what was regarded as being  the top institutional equity sales force in the financial industry, playing  an important role in the Lehman’s  research division’s rise to first place in the Institutional Investor survey.

David Tepper graduated with an economics degree from the University of Pittsburgh in 1978 and then an MBA from Carnegie Mellon University in 1982., According to Forbes, David Tepper has a net worth of US$7.9 billion as at September 2013.

 

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.