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Peter Thiel’s Clarium Hedge Fund Falls 23% This Year

Peter Thiel of Clarium Capital Management
Clarium Capital Management Chairman Peter Thiel. Photographer: Jin Lee/Bloomberg

Clarium LP, the hedge fund run by PayPal co-founder Peter Thiel, lost 23 percent this year, according to a note sent to clients.

The $321 million fund declined 7.8 percent last month, according to the Dec. 3 note. Armel Leslie, a spokesman for Thiel’s San Francisco-based Clarium Capital Management LLC, declined to comment.

Hedge funds declined 1.5 percent last month, the most since May, leaving the gain for the year at 3.8 percent, according to the Bloomberg aggregate hedge fund index.

Clarium, founded by Thiel, 43, in 2002 after selling online-payments service PayPal to EBay Inc. for $1.5 billion, trades everything from stocks to commodities, seeking to profit from broad economic trends, a strategy known as macro investing. Such funds fell 1.1 percent last month, curbing their annual gain to 2.1 percent this year, according to Bloomberg data.

Assets at the entire firm have slumped to $681 million from about $7 billion at the 2008 peak.

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