Hedge funders eye N.J. schools

Billionaire Tepper

A new group backed by two hedge-fund founders is taking aim at New Jersey's largest teachers union. Better Education for Kids wants to end the use of seniority in teacher-hiring decisions, implement an effective teacher-evaluation system and weaken tenure.

Better Education for Kids was started by New Jersey residents David Tepper and Alan Fournier, who founded the Appaloosa Management hedge fund and the Pennant Capital Management hedge fund, respectively.

-- Wall Street Journal