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Bailey McCann, Opalesque New York:

Markets are selling off, but some hedge fund managers are finding buying opportunities and a few shops are raising new funds in order to participate in the recovery.

In an interview with CNBC today, Appaloosa's David Tepper said that he was "nibbling" around the edges of the market. He highlighted opportunities in tech and healthcare saying that healthcare is a potential long-term play. Tepper said he is adding to his positions Amazon, Alphabet and Alibaba as well as Micron Technology.

Baupost's Seth Klarman is reportedly looking for value opportunities as well.

D.E. Shaw is said to be raising $2 billion for its flagship fund in order to capture opportunities across asset classes.

According to UBS, a handful of long-biased equity, credit, and relative value hedge funds are also raising money from investors to pursue wide-ranging opportunities.

Bloomberg is reporting that Citadel, Coatue, and Capula Investment Management are all speaking with investors about new funds or injections of capital into existing flagship strategies.

Hedge fund managers have been waiting years for volatility and are marketi......................

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