GOBLIN HOUSE
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Question: Investigate Clarium Capital: Search Treasury Department for "PPIP Public-Private Investment Program participant lists, eligible fund criteria, application records March 2009-2010". Would definitively confirm whether Clarium Capital applied for or was rejected from the primary hedge fund crisis engagement program.. Report any findings as factual claims with dates and evidence.
Date: 2026-04-09
The investigation found no evidence that Clarium Capital applied for or was rejected from the Treasury Department's Public-Private Investment Program (PPIP). The PPIP was announced on March 23, 2009, and Treasury received over 100 applications from fund managers. The program had strict eligibility requirements including $500 million capital-raising capacity, $10 billion in eligible assets under management, and U.S. headquarters. Nine firms were selected in July 2009: AllianceBernstein, Angelo Gordon, BlackRock, Invesco, Marathon Asset Management, Oaktree Capital, RLJ Western Asset Management, TCW Group, and Wellington Management.
At the time of PPIP applications (spring 2009), Clarium Capital would likely not have met the eligibility criteria. The fund's assets had dropped from $7.8 billion in June 2008 to $1.5 billion by July 2009, and it was experiencing significant performance problems with a 25% loss in 2009. Most importantly, despite extensive searches of Treasury documents, Congressional oversight materials, and financial news coverage, there is no record of Clarium Capital being among the 100+ applicants or being mentioned in any PPIP-related documentation. The absence of any documentation strongly suggests Clarium did not apply to the program.