Clarium Down Another 6.5%, Assets Drop Below $1B

May 12 2010 | 9:52am ET

Clarium Capital Management is continuing its losing ways.

The New York-based hedge fund, headed by PayPal founder and Facebook investor Peter Thiel, took another big hit in April, pushing its assets—once $7 billion—to under $1 billion. Clarium fell 6.5% last month, the New York Post reports, leaving it down roughly 10% on the year. The average hedge fund returned more than 1% in April and is up roughly 4% on the year.

The losses cut Clarium’s assets under management to just $976 million.

Clarium lost 4.5% in 2008, though that isn't too shabby considering the average hedge fund lost double-digits that year.  Unfortunately, the fund was down 25% in 2009, when most hedge funds were well in the black.

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