Hedge fund manager John Paulson's Advantage Plus fund tanked 36% in 2014, Bloomberg News reports, citing unnamed sources familiar with the fund's performance.
The event-driven fund, which focuses on takeovers, spinoffs, or bankruptcies, fell 3.1% in December, the report said.
Meanwhile, Paulson's Advantage fund fell 29% in 2014 and was down 2.4% in December, the report said.
Paulson, who manages about $19 billion in assets, became famous for his 2007 bet against subprime mortgages.
His returns haven't been so hot lately, though.
This year marked Paulson's second-worst performance ever. His worst year was 2011, when he lost about 52%.
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