Hedge Fund Of Hillary Clinton's Son-In-Law Has Shut Down

Tyler Durden's picture

Less than one year ago, we reported that Marc Mezvinsky, the husband of Chelsea Clinton and the son in law of Hillary and Bill Clinton, had shut down its Greek Fund after suffering 90% losses. To wit:

Despite having Goldman Sachs CEO Lloyd Blankfein as an investor and being Bill and Hillary Clinton's son-in-law, Marc Mezvinsky (and two former colleagues from Goldman Sachs who manage Eaglevale Partners hedge fund) told investors in a letter last February they had been "incorrect" on Greece, generating staggering losses for the firm’s main Eaglevale Hellenic Opportunity, a/k/a the "Greek recovery" fund during most of its life. By 'incorrect' the Clinton heir apparent meant the $25 million Eaglevale Greek fund had lost a stunning 48% in 2014.

The closure took place just three years after Institutional Investor proclaimed Mezvinsky "a hedge fund rising star" in 2013.

In late 2011, Marc Mezvinsky co-founded New York-based, macro-focused hedge fund firm Eaglevale Partners with Bennett Grau and Mark Mallon, two Goldman Sachs Group proprietary traders whom he'd gotten to know when they all worked at the bank. Best known as the husband of Chelsea Clinton, Mezvinsky, 35, who has a BA in religious studies and philosophy from Stanford University and an MA in politics, philosophy and economics from the University of Oxford, has been quietly building his finance career. Before launching his own firm, the longtime Clinton family friend was a partner and global macro portfolio manager at New York- and Rio de Janeiro-based investment house 3G Capital. Eaglevale manages more than $400 million.

 

Alas, he was anything but, and instead of having a real grasp of macroeconomic events, or how to - you know - hedge, he decided to dump millions in Greece just before the country entered a death spiral that culminated with its third bailout, capital controls, insolvent banks and a terminally crippled economy.

 

Meanwhile, things went from terrible to abysmal for both the clueless hedge fund manager and his LPs, and as the NYT reports, Hillary Clinton's son-in-law is finally shutting down the Greece-focused fund, after losing nearly 90% of its value.  Investors were told last month that Eaglevale Hellenic Opportunity would finally be put out of its misery and would shutter.

Fast forward to today when overnight, Hedge Fund Alert reported that some time around the end of 2016, Mezvnisky decided to shut down his entire operation:

Eaglevale Partners, a global-macro shop co-founded by Hillary Clinton's son-in-law, Marc Mezvinsky, is no longer in business.

 

The New York firm shut down last month, sources said. Eaglevale, led by Mezvinsky and two former colleagues from Goldman Sachs, enjoyed early backing from blue-chip names including Goldman chairman Lloyd Blankfein and Avenue Capital founder Marc Lasry. But the flagship Eaglevale Partners Fund suffered from weak performance, and last year the firm shuttered a small vehicle focused on investments in Greek debt after it lost an estimated 90%.

 

One source said Eaglevale "never got scale," suggesting that it failed to gather enough assets to be profitable - despite Mezvinsky's obvious advantages in the fund-raising arena. On a gross basis, the firm was managing $326 million at yearend 2015 - the bulk of it in a separate account for an institutional client. Eaglevale's two funds accounted for only about $50 million of the total.

 

At that point, Eaglevale employed nine people. There's no word on what Mezvinsky or his partners, Bennett Grau and Mark Mallon, plan to do next.

 

Grau, Eaglevale's chief investment officer, is a veteran currency trader who began his career at commodity-trading shop J. Aron & Co., where Blankfein also got his start. For years, Grau led Goldman's highly profitable global-macro proprietary-trading business, which trained a generation of macro traders - including Mallon and Mezvinsky, who is married to Chelsea Clinton.

Why shutter so fast after the Hillary defeat? Perhaps because without having links into the state department, or the broader US government, any "informational arbitrage" edge Mezvinsky had hoped to have with Hillary as president, was finally gone.

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Delving Eye's picture

pay-for-play scheme sidelined.

froze25's picture

Ding, Ding, Ding we have a winner Johnny. Also all that inside information that he promised his clients won't be coming. :(

Pinto Currency's picture

The law is tightening around these crooks - next week will be most interesting as Sessions starts to file charges and make arrests.

Manthong's picture

Fittingly, GS lost money on that turkey.

The Saint's picture

Finding investors is tough when you can't offer them political favors.  I hope the whole damn Clinton family goes broke then goes to Hell.

BTW, who are Chelseas real parents.  She is the ugliest 1st daughter ever.

 

froze25's picture

Look at the picture, side by side http://www.thepoliticalinsider.com/wp-content/uploads/2015/07/3.jpg

Chelsea has had plastic surgery, encase you didn't know.

Webster Hubble is her daddy.

Thought Processor's picture

 

 

Follow the money.  

 

Though I expect all records of suspect holdings / transactions will mysteriously disapear in some strange warehouse fire.

Chris Dakota's picture

Trump will never go after Hillary.

Why?

No jury will convict her. All it takes is one supporter to hang it and it will happen every time.

The bitch truly is above the law.

That's why her coat pockets are so big.

This is why the country will soon be split or civil war.

Can't go on like this, the left brought it and it was always what I thought the elites wanted.

Balkanized America, easier to rule.

Boris Alatovkrap's picture

Of course Clinton hedge fund is lose money and is shut down state… there is no influence left for peddle!

Creative_Destruct's picture

No more Clinton Currency (influence) no business. Yes.

Good to hear from you again Boris. Where've you been?

J S Bach's picture

Hillary's (((son-in-law))) a scam artist?!  Nah... couldn't be.

Stinkytofu's picture

"can't we just drone her?"

overbet's picture

Standard move. Blow the fuck up spectacularly then open a new fund. Rinse, repeat, retire.

JRobby's picture

Goldman helped bury Greece.

Some would say singlehandedly did so.

The Saint's picture

"Chelsea has had plastic surgery.."

All I can say is that it didn't take!  LOL

peippe's picture

yeah, my eye went right to it, like a magnet.

more like"first monster".

Koba the Dread's picture

Hilary Clinton's law partner, Webster Hubbell, is clearly Chesea's father. Google "Chelsea Clinton Webster Hubbell" for images and you will find hundreds showing their faces. She looks exactly like him. She seems to have had plastic surgery since the Clintons went free-range in 2001. Chelsea's White House era photos look exactly like Hubbell.

Scuba Steve's picture

Im a big fan of my Milwaukee Bucks but Owner Marc Lasry can suk my dick ... first rate commie liberal cuck "Do as I say not as I do" Hillary pie-lickin prick.

I hope he dies a a quick painful death so my Bucks can prosper without his NY dik-wad money.

Jim in MN's picture

HUMA'S LAPTOP

HUMA'S LAPTOP

HUMA'S LAPTOP

 

For Christs sake can some patriot spring that data and get it out to the public. 

The essence of Tyranny is being above the Law.  Are we still a democratic Republic, or are we not? 

The fate of Huma's laptop will tell us.

JRobby's picture

Already buried

Non event

Next

Red Raspberry's picture

It's sleeping with Hoffa.

Bay of Pigs's picture

In the end zone at Giants stadium?

Scuba Steve's picture

These days, Good NY detectives use technology too and make HDrive images before handing over. jmo.

Lorca's Novena's picture

Money laundering just 'aint what it used to be...

AllTimeWhys's picture

Jesus christ that picture, paper bag, PAPER BAG!

City_Of_Champyinz's picture

Those are some rocking eye bags for sure...I would LOVE waking up next to that shit for the rest of my life.

Scuba Steve's picture

she'd probably suk the nuts right off of you and you'd like it ... :)

Buck Johnson's picture

Exactly, he would have had the abiliity to get information but for those individuals to see or get access etc. etc., they would have to pay and they would do that via investing in his company.

 

 

Kirk2NCC1701's picture

Another Clinton-esque legal maneuver, to sever liability and litigation issues, to decouple from all things CGI (Clinton Global Initiative).

He will simply re-start with a new Fund in a few months or so.

His parents did not raise him to "turn the other cheek", be poor or meek.  Good for them.  Good for him.  Before you go off half-cocked and start dissing his success (model), with your Middle-Class 'Christian' filter... please be objective an intellectually honest as to where one's responsibilities and allegiance lies:  Your own*!

 

* Your Own = Self, Family (nuclear and extended), Clan, Tribe, Nation, Race.  These are natural allegiances.  The ones you/we are programmed with are un-natural allegiances, designed to give allegiance and wealth to Feudal Masters (Aristocracy, Corporations), Bankers and Deep State.  Just so we're clear.

JRobby's picture

Smashing that model = real progress

Just Another Vietnam Vet's picture

Gee, A Case of  No Inside Info To Trade On... !!!!!!!! 

 

What is the return back to "clients"  ?????   

 

TWENTY PERCENT ????

NumberNone's picture

This is probably the least reported bit of corruption during the last campaign.  This douche-bag was at least portraying that he had inside information regarding what was going on in Greece via his marital connections to the then Secretary of State.  No one in MSM seemed to care if Hillary was possibly attempting to feed inside information to the financial benefit of her family members...nor that this asshat lost 90% of his investors money.  

Funny that Ivanka Trump loses deal after deal because she supports her father...but Chelsea still gets love from left despite the fact that her husband is a truly despicable human being that she will not divorce or denounce.  I guess like mother, like daughter. 

Katos's picture

I'm sure this slimy asshole didn't lose a penny. I'm sure bill and Hillary taught him how to siphon off a few million into a safe account in the Bahamas!

BorisTheBlade's picture

Eaglevale partners (Oyvey partners), Greek opportunistic fund (hoho), former Goldman partner (muppets), connected to Clintons (no comment). The guy looks a bit a young Jon Corzine to boot. Success story for LPs all the way.

JRobby's picture

(Laugh Track Deafening!!!!)

drendebe10's picture

Sewer water always seeks its own level....  

sgt_doom's picture

Does CNN's Jake Tapper know about this?  He's very close to the Mezvinskys, you know?

Uzda Farce's picture

Chelsea Clinton and Jake Tapper are members of the Rockefeller/CFR. See member lists at cfr dot org.

Budnacho's picture

-Or- the Clintons are liquidating assets and are getting ready to flee....

south40_dreams's picture

Arkancide is next. Never disappoint these killers

True Blue's picture

Damn, that actually makes sense; the whole snowflake riots thing, the messages from the owned media -these people are trying to Arkancide the entire country because we denied her that position of power and self-aggrandizement.

south40_dreams's picture

The clintons are stone cold killers. That's not just sarcasm

Supafly's picture

Jesus Christ she looks like her Dad

froze25's picture

Who Webster Hubble? Look at the picture, side by side http://www.thepoliticalinsider.com/wp-content/uploads/2015/07/3.jpg

Chelsea has had plastic surgery, encase you didn't know

Its almost as good as how much Merkel looks like Adolf Hitler.
https://2.bp.blogspot.com/-rB6stgh0rQs/Vsnjh8PdmdI/AAAAAAAAAy0/Uqj84rBbs...

LawsofPhysics's picture

LOL!!!  Yes, unlike Madoff, he is smart enough to shut his ponzi scheme down now, rather than later. After all, while all animals are created equal, some animals are indeed "more equal" than others.