How David Tepper’s Nephew Launched His Hedge Fund During the Pandemic — and Won Big (In-Depth)

Aaron Weitman's CastleKnight Management is a firm with a distinct pedigree. Weitman is the nephew of David Tepper and was a long-time partner at Tepper's Appaloosa Management. He launched his own hedge fund in 2020 — amid the COVID-19 pandemic. Of course, Tepper backed Weitman's fund.

Massive pandemic-era returns

As an event-driven specialist, it's no wonder CastleKnight smashed the returns of so many other funds during such a major black swan event. CastleKnight Management returned 63.8% net and 79.7% gross in 2021, smashing the S&P 500's 28.7% return, the Barclays U.S. HY Index's 5.2% return, and the Credit Suisse's Hedge Fund Index's 8.2% gain.

Event-driven funds tracked by Eurekahedge returned 13.56% in 2021 and 9.29%...