Hillary Clinton’s son-in-law, the mediocre money manager Marc Mezvinsky, is shutting down a special Greece-focused investment fund that had lost nearly 90 percent of its value over the past two years.
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The Eaglevale Hellenic Opportunity fund, which had raised $25 million from investors, was pitched as a bet on economic recovery in Greece—that hasn’t panned out, exactly. The fund reported a 48% decline in 2015, when Mezvinsky told investors that his firm’s predictions about the Greek economy had “proved incorrect,” and hasn’t recovered.
Mezvinsky, who married Chelsea Clinton in 2010, founded the investment firm Eaglevale Partners two years later with the help of Goldman Sachs CEO Lloyd Blankfein, a prominent Hillary Clinton supporter. Billionaire investor and Democratic megadonor Marc Lasry was also an early investor in Eaglevale.
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The firm, which manages about $330 million in total, is down 1 percent on the year, which is slightly worse than average for hedge funds. Since its inception, Eaglevale has posted what the New York Times described as “uneven performance.”
Mezvinsky’s financial trouble is unlikely to concern wife Chelsea, who has said she could never bring herself to care about money. That didn’t stop her from turning down a $600,000 annual salary at NBC News to do basically nothing except interview the Geico gecko from time to time. The couple lives in $10 million luxury condo in Manhattan’s trendy Flatiron District.
Mezvinsky’s father, former congressman Edward Mezvinsky, served five years in prison for stealing money from his friends, family and associates through a series of crude scams.
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