Appaloosa Lp

David Tepper is the sole decision-maker. He founded Appaloosa in 1993 and personally drives all major allocation calls, from distressed debt to private credit. There is no formal CIO or investment committee, per public record.

Appaloosa sources through its deep relationships in distressed-debt markets, often taking positions in bankruptcies and stressed companies. Tepper's reputation for decisive action attracts counterparties. The firm also generates ideas from its own research on capital structure inefficiencies.

Appaloosa converted from a hedge fund to a single-family office in 2019, returning outside capital. It now manages solely the wealth of David Tepper, per Bloomberg.

Appaloosa historically used a hedge fund structure and now makes direct investments in distressed debt, private credit, and special situations. It does not commit to external limited-partner funds, as it manages only Tepper's capital.

Appaloosa focuses on distressed situations, often in bankruptcy or restructuring. It targets companies with stressed balance sheets where it can take concentrated positions across multiple layers of capital.

Appaloosa does not disclose explicit avoidance lists, but its track record indicates a focus on distressed energy, retail, and industrial businesses. It avoids early-stage venture and long-only equity.

Appaloosa historically operates alone rather than alongside external GPs. As a single-family office managing Tepper's capital, it does not seek co-investment partners for its positions.