David Tepper to keep hedge fund alive for a handful of investors, report says.
His firm will begin to return money to clients at the start of next year, people familiar with the matter told Bloomberg, and remaining investors will have $1.25 billion to $1.5 billion with Tepper.converting it to a family office reflects a new eraExiting investors should receive 90% of their money back in January, and the rest in March or April next year, according to the Bloomberg report.
Tepper became known during the financial crisis through investments in depressed bank securities. He managed roughly $14 billion in assets, with his own money comprising about 70% of the fund.
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