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Appaloosa’s David Tepper to Return Billions to Clients

The New Jersey hedge fund manager — who is on track to post a down year — says he’ll return between 10 percent and 20 percent of investor assets at the end of the year, the fourth straight year he is returning money to clients.

       David Tepper, Appaloosa Management (Bloomberg)Appaloosa Management’s David Tepper plans to return between 10 percent and 20 percent of client assets at the end of the year, according to people familiar with the firm. Given that Appaloosa started the year at $19.3 billion, this means the firm will return roughly between

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