Hillary’s Son-in-Law’s Firm Goes Belly-Up
Marc Mezvinsky quietly shut down his hedge fund Eaglevale Partners back in December.
Bloomberg reports that Mr. Chelsea Clinton and his partners are now working to return money to investors, including Goldman Sachs CEO Lloyd C. Blankfein.
The decision to shutter the fund came just a few weeks after Mezvinsky’s mother-in-law Hillary lost the election to president Donald Trump.
Mezvinsky has kept a low profile ever since Hillary’s loss in the election, but was photographed by DailyMail.com heading out for a weekday jog in the middle of the afternoon last week.
He and his wife are now both without a full-time job.
It was revealed last May that Mezvinsky suffered a huge loss after trying to bet on the revival of the Greek economy, forcing him to shut down one of his hedge funds.
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He and his partners, former Goldman Sachs colleagues Bennett Grau and Mark Mallon, raised $25million from investors to buy up bank stocks and debt from the struggling nation.
That fund however has lost 90 percent of its value, investors with direct knowledge of the situation told The New York Times, and was closed.
Eaglevale Partners was started in 2011 by Mezvinsky and his partners, with their former boss, Goldman Sachs CEO Lloyd C. Blankfein, one of the first investors.
Another is leading financier, Marc Lasry, co-founder of $13 billion hedge fund Avenue Capital, where Chelsea worked after graduating from Stanford.
‘I gave them money because I thought they would make me money,’ Mr Lasry told The Times last year, after investing $1 million in Eaglevale and urging a relative to do the same.
Mezvinsky was long gone from his job at Goldman in October 2013 when his mother-in-law Hillary was paid to give a speech to executives at the company during a technology conference in Arizona.
She was reportedly paid $225,000 for that appearance.
Mezvinsky and his partners had written to clients in 2014 to declare confidence in their ‘Hellenic Opportunity’ fund, predicting that Greece was on the path to a ‘sustainable recovery’.
By that point they had collected $25 million but stopped taking money by the end of that year when it became clear the country’s economy would collapse without a massive Eurozone bailout.
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