Sunday, 29 March 2015
Last updated 1 day ago
Aug 15 2011 | 2:46pm ET
Clarium Capital Management's Peter Thiel is going back to what he knows: technology.
The PayPal co-founder and early Facebook Inc. and LinkedIn Corp. investor plans to steer more of what's left of Clarium's assets into private technology companies. The San Francisco-based hedge fund disclosed its private equity turn in a regulatory filing last month.
"It was important to give our investors advance notice that we were going to potentially branch out into a new asset class," Clarium managing director James O'Neill told Bloomberg News. "Peter has a long and successful track record as a technology investor."
His track record as a global macro hedge fund manager is somewhat shorter and a good deal less successful. Clarium's assets under management have fallen more than 90% since the middle of 2008, when it ran more than $7.2 billion. But the hedge fund has suffered three straight losing years, in which it has lost some two-thirds of its assets. Last year, Clarium fell 23% and moved the firm back to California from New York.
In its filing, Clarium said that private equity is an "attractive investment opportunity."
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…