Clarium Capital Management LLC was an American investment management and hedge fund company pursuing a global macro strategy. It was founded in San Francisco[ Clarium Capital on Google Maps] in 2002 by Peter Thiel, co-founder of PayPal and early investor in Facebook.[ "Thiel's Hedge Fund Plummet". New York Post. Retrieved June 27, 2010.]
Function and history
Clarium was an
employee-owned firm that invests in
public equity (primarily in
microcap stock companies),
fixed income, and
. Unlike most funds, which charge clients about a 2% management fee for their total assets invested and an additional 20%
performance fee of the increase in the fund's net asset value, Clarium charged a 0% management fee and a performance fee of 25%.
The company stopped working while Thiel worked at PayPal and resumed in 2002.[ "Clarium Capital Management LLC". BusinessWeek. Retrieved June 28, 2010.] In 2008, Clarium moved its headquarters from San Francisco to New York City.
Performance
2002
Clarium's 2002 performance, a series of correct bets in the
that global demand would cause an oil shortage, was described by a 2009
Wall Street Journal article as "impressive".
2008-2010
Clarium was down 4.5% in 2008,
[ "Hedge Fund Portfolio Tracking: Peter Thiel's Clarium Capital, Q4 2008"] down 25% in 2009,
[ "Thiel's Clarium Capital reportedly hurting"] and down 23% in 2010.
[ "Peter Thiel's Clarium Hedge Fund Falls 23% This Year"] For the first half of 2008, the fund had a YTD return of 57.9%.
[ "Clarium hedge fund posts gains of 57.9 percent". Reuters. Retrieved June 28, 2010.] At the start of 2008, the fund had $4 billion in assets under management (AUM),
raised to $7.8 billion in June 2008, then dropped to $1.5 billion in July 2009, after investors withdrew money from the fund.
[ "The Quick Gutting of Peter Thiel's Clarium Capital" . Gawker. Retrieved June 27, 2010.] It lost most of its value in 2008 on large bets that the
US dollar would fall, and AUM reached $681 million in December 2010.
Further reading
External links
