NYT – David Tepper, the manager of the $3 billion Thoroughbred Fund, is making a magnanimous gesture: he is allowing investors, who committed their money for three years, an early way out.
“We were being nice,” Mr. Tepper, the founder of the hedge fund Appaloosa Management, said in a telephone interview. “We let some people out of the lockup, and we replaced it with new money.”
