Clarium Capital Management

Global macro hedge fund manager.

Hedge fundGlobal macroInvestment management

Status unknown^{Source [2]}^{Source [5]}Last verified Oct 2, 2026

About Clarium Capital Management

Clarium Capital Management was a global macro hedge fund manager established by Peter Thiel in 2002 after the sale of PayPal. It traded directional, liquid positions in currencies, interest rates, commodities and equities. Ajay Royan, who later founded Mithril Capital, worked there as a macro and growth equity investor.^{Source [1]}^{Source [4]}

The fund reported returns of more than 50% in 2003 and in 2005, then a 7.8% loss in 2006. Forbes reported that assets peaked at as much as $6 billion in mid-2008, and that after losses in 2008, 2009 and 2010 they had fallen to $460 million by January 2011, a quarter of it Thiel's own money.^{Source [1]}^{Source [5]}

Its last Form 13F on SEC EDGAR covers the quarter ended September 30, 2010 and was signed by Thiel as President. Its later status could not be confirmed from a primary source.^{Source [3]}^{Source [2]}

What happened

Established by Peter Thiel in 2002 as a global macro hedge fund. Forbes reported in January 2011 that its assets had fallen from as much as $6 billion in mid-2008 to $460 million after three losing years. Its last Form 13F on EDGAR was filed in November 2010 and signed by Thiel as President; Wikipedia lists the firm as defunct in 2013, which was not confirmed by another source.^{Source [1]}^{Source [2]}^{Source [5]}^{Source [3]}

Timeline

2011-01Forbes reported assets of $460 million after three losing years and said the fund had no equity exposure.^{Source [5]}
2010-11Filed its last Form 13F on EDGAR, for the quarter ended September 30, 2010.^{Source [3]}
2010Lost 23% for the year, after losses of 25% in 2009 and 4.5% in 2008.^{Source [5]}
2008Assets reached as much as $6 billion in mid-2008.^{Source [5]}
2006Reported a 7.8% loss.^{Source [1]}
2005Reported a net return of over 50%.^{Source [1]}
2003Reported a net return of over 50%.^{Source [1]}
2002Established by Peter Thiel.^{Source [1]}

Products and brands

Global macro hedge fund: Directional positions in currencies, interest rates, commodities and equities.^{Source [1]}

How it makes money: Managed a global macro hedge fund for outside investors and Thiel's own capital.^{Source [1]}^{Source [5]}

Leadership

Peter Thiel

President^{Source [3]}

Until 2010 (last SEC filing)

People on Founded, and where they went next

1 person on record, connected to 6 other companies.

Person	Here	Also built
Peter Thiel	Founder, President2002	Mithril Capital Management2012ActiveFounders Fund2005 to nowActiveMeta2005 to 2022IPOPalantir Technologies2003 to nowIPOPayPal2000 to 2002IPOConfinity1998 to 2000Merged

Sources

Peter Thiel, Immigrant Entrepreneurship (German Historical Institute), 2018-08-22. Accessed Oct 2, 2026.
Clarium Capital, Wikipedia. Accessed Sep 28, 2026.
Clarium Capital Management, LLC Form 13F-HR for quarter ended September 30, 2010, SEC EDGAR, 2010-11-12. Accessed Sep 28, 2026.
Ajay Royan, Mithril Capital Management. Accessed Oct 2, 2026.
Life After Facebook (reprinted from Forbes), Stanford Law School, 2011-01-26. Accessed Oct 2, 2026.

Suggest a correction / Editorial policy