Hillary Clinton went after hedge fund managers during her presidential campaign, but even if she had been elected president, there’s one manager who would’ve gotten a pass during her administration. You wouldn’t hear it from Hillary, but her daughter’s husband, Marc Mezvinsky, is a hedge fund manager himself.
Mezvinsky isn’t one of those “billionaire” hedge fund managers that Hillary criticized on the campaign trail. In fact, he’s one of the people Hillary can’t understand could possibly lose a billion dollars in a year. That’s because his hedge fund made concentrated bets into a single economy: Greece’s.
His fund bet on a recovery in the Greek economy that never came.
As the Daily Caller reported:
Bill and Hillary Clinton’s son-in-law has shut down the hedge fund he co-founded in 2011.Mezvinsky closed his fund Eaglevale Partners in December, reports Bloomberg. He and his partners are in the process of returning the funds back to clients.
Mezvinsky closed a failed spin-off of Eaglevale in May, 2016, after losing 90 percent of its funds on a failed bet on the Greek economy. Eaglevale Hellenic Opportunity bought up Greek stocks and government debt in hopes the troubled country would get back on a healthy financial path and its economy would come roaring back. But the recovery didn’t happen, and the fund lost almost all the invested money before it was shut down.According to Russia Today:
“…The funds managed roughly $330 million in May of last year following the crushing losses. Investors in Mezvinsky’s fund were expected to invest a minimum of $2 million.”
At least for Hillary, her failed presidential campaign is no longer the only colossal waste of money in her family’s history.
[Note: This post was authored by Matt Palumbo. Follow him on Twitter @MattPalumbo12]