Clarium Capital Management, a global macro hedge fund manager that has struggled since the onset of the financial crisis, is having a rough September. According to an article from the Wall Street Journal, the firm’s Clarium LP fund is down 8% through the first half of September. The fund is also down by over 15% year to date, which is a far cry from 2007 when it clocked a rate of return of over 40%.
According to the article, in the middle of 2008 the hedge fund was managing assets worth over $7 billion, but by the end of August 2009 assets under management had slipped to under $2 billion. According to SEC filings, from 3/31/09 to 6/30/09, Clarium Capital’s US equity assets fell from $527 million to just over $13 million. Meanwhile, other large hedge funds employing similar strategies are performing better and some are even up by over 10% so far in 2009.
Clarium Capital was founded by Peter Thiel in 2002. In addition to founding Clarium, Mr. Thiel was a co-founder of PayPal, is currently a director at Facebook and co-founded Founders Fund Management. |
