It could be one heckuva New Year’s Eve party for hedge fund titan David Tepper - again.
The New York Post reports that the founder of Appaloosa Management, with more than $20 billion under management, is looking at a possible $3 billion-plus payday in 2013, which could make him the highest paid hedgie.
That’s quite a feat, especially after Tepper’s 30 percent gain last year earned him $2.2 billion and the top spot on Institutional Investor Alpha’s annual 'Rich List' of the top 25 hedge fund managers.
Tepper’s Palomino fund was up 38%, after fees, as of November 30, according to an investor, making the 56-year-old one of the few in his business to post a return higher than the 29.1% gain of the S&P 500.
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