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David Tepper’s Panthers Deal Cuts His Hedge Fund Assets to $14.8 Billion

(Bloomberg) Appaloosa LP’s assets under management declined almost 20 percent since late January as founder David Tepper withdrew some of his personal wealth to acquire the Carolina Panthers for $2.3 billion. The billionaire’s firm also disclosed in a September filing that it closed Appaloosa Investment LP I, the hedge fund that Tepper formed roughly 25 years ago. Investors were given the option of shifting their money into a separate Appaloosa fund, a person familiar with the situation said.

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