Apparently everyone’s pulling their assets out of Clarium, the hedge fund founded by Peter Thiel, who is also the founder of PayPal, and was one of the first investors in Facebook.
A source — an investor who’s one of the few whose money remains invested with Clarium — tells us that now, the fund’s AUM (assets under management) are down to around $850 million – “and about half of that is Thiel’s.”
Just shy of a billion AUM is pretty terrible when you consider that Clarium managed $7.8 billion just 2 years ago at its peak in the summer of 2008.
But it’s also not surprising considering the story of Peter Thiel’s hedge fund, which after shooting onto the scene in the first half of 2008 when the fund earned investors huge 57.4% returns, began losing money and bleeding assets almost immediately after. The fund lost a whopping 13 per cent in August 2008 followed by another 18 per cent loss in October 2008.
By January 2009, AUM had dwindled to $2.5 billion.
A year later in July 2009, AUM were down to $1.9 billion.
And the NYPost reported in May that the fund’s AUM were down to $976 million. Clearly he’s still losing people.
But as an upside, our source tells us he’s likely to stay invested with the fund, because “Thiel’s a genius.”
A Clarium spokesman told us, “I’m afraid we don’t comment on AUM.”
Will Thiel retire? For some reason we doubt it. But here are 11 hedge fund mangers that probably will soon >>>
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