Appaloosa Management is an American hedge fund founded in 1993 by David Tepper and Jack Walton specializing in distressed debt.

[1] In 1993, David Tepper and Jack Walton, founded Appaloosa Management, an employee-owned hedge fund, in Chatham, New Jersey.

[8] In the fourth quarter of 2002, Appaloosa Management returns were heavily a result of junk-bond and distressed debt bets in Conseco and Marconi Corp. that the market was bottoming out.

[13] In September 2011, a Delaware bankruptcy court found that Appaloosa Management is one of four hedge funds that had played a role in Washington Mutual's restructuring which might have received confidential information that could have been used to trade improperly in the bank's debt.

"[1] According to BusinessWeek, the firm's client base consists of high-net-worth individuals, pension and profit sharing plans, corporations, foreign governments, foundations, universities, and other organizations.