Appaloosa Management is a prestigious hedge fund firm founded in
1993 by David Tepper and Jack Walton. The firm has more than $4
billion in assets under management as of 2011. Appaloosa focuses on
investing in distressed securities, and some of its recent or
current holdings include Citigroup, Goodyear, Pfizer, Valero,
Macy's, CVR Energy, and International Paper. David Tepper,
Appaloosa's president, is well known in the investing industry,
and, in addition to his stock-picking prowess, he's also become
known as a philanthropist. In 2003, he famously donated $55 million
to his alma mater, Carnegie Mellon, whose business school now bears
Tepper's name. Tepper, originally from Pittsburgh, has also donated
funds to the University of Pittsburgh, and he owns part of the NFL
team the Pittsburgh Steelers. Tepper currently lives in Livingston,
New Jersey, and Appaloosa is based in nearby Chatham, New Jersey.
In 2011, Appaloosa was named the Institutional Hedge Fund Firm of
the Year by Institutional Investor.