Hedge fund manager John Paulson’s Advantage Plus fund tanked 36% in 2014, Bloomberg News reports, citing unnamed sources familiar with the fund’s performance.
The event-driven fund — which focuses on takeovers, spinoffs, or bankruptcies — fell 3.1% in December, the report said.
Meanwhile, Paulson’s Advantage fund fell 29% in 2014 and was down 2.4% in December, the report said.
Paulson, who manages about $US19 billion in assets, became famous for his 2007 bet against subprime.
His returns haven’t been so hot lately, though.
This was Paulson’s second-worst performance year. The worst year for Paulson was in 2011 when he lost about 52%.