In 2014, Ms Clinton’s husband and his partners said they were confident that Greece would soon be on the path to “a sustainable recovery”. Mr Mezvinksy spoke at conferences to promote the idea of “investing for growth” in Greece.
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Hillary Clinton’s son-in-law, Marc Mezvinsky, shuttered his hedge fund shortly after the election, according to a report.
Privacy Notice Hedge funds, of the type managed by Marc Mezvinsky, are different.
Allawi Iraq’s Vice-President between 2014 and 2015, and the country’s interim prime minister from 2004 to 2005, President of the United Arab Emirates, Emir of Abu Dhabi, Daughter of Li Peng, the former Premier of China (The current vice-president of state-owned power company China Datang Gorporation and former CEO of China Power International Development, she has been nicknamed China’s “Power Queen”, Cousin of Bashar Assad, the President of Syria, Nephew of Jacob Zuma, President of South Africa, Daughter of Nawaz Sharif, prime minister of Pakistan, Son of Nawaz Sharif, prime minister of Pakistan, The eldest son of ousted former Egyptian President Hosni Mubarak Read more here. Typically, investors can only sell hedge fund investments at specified times, often quarterly or yearly. Greece is a risky investment, with 10-year Greek government bonds yielding around 7.5 per cent - UK 10-year government bonds yield around 1.4 per cent in comparison - and bank stocks are inherently volatile. His mother, Marjorie Margolies, served one term in Congress under President Bill Clinton, losing her seat after supporting his tax plan. It allows our most engaged readers to debate the big issues, share their own experiences, discuss real-world solutions, and more. Overall Greek stocks failed to bounce back as hoped, with the Athens Stock Exchange plummeting around 90 per cent since launch of the fund. Want an ad-free experience?Subscribe to Independent Premium.
Tens of millions raised for the fund came from Clinton supporters. Chelsea Clinton's husband closes hedge fund due to poor performance.
His father Edward Mezvinsky, also a former congressman, was convicted for running a Ponzi scheme and spent five years in prison. Post was not sent - check your email addresses! The existing Open Comments threads will continue to exist for those who do not subscribe to Independent Premium.
Do Not Sell My Personal Information, Your California Privacy Rights Marc Mezvinsky, far right, in 2014, part of the Clinton family, Chelsea Clinton's husband closes hedge fund due to poor performance, Read more Top 25 US hedge fund managers made $13bn in 2015, Hedge fund bosses Alan Howard and Crispin Odey see fortunes hit amid market turbulence, Wall Street bonus tumbles to $146,200 after dismal year for the financial sector, Bernie Sanders slams Hillary Clinton over her $675,000 pep talks to Wall Street firms in 2013, You may not agree with our views, or other users’, but please respond to them respectfully, Swearing, personal abuse, racism, sexism, homophobia and other discriminatory or inciteful language is not acceptable, Do not impersonate other users or reveal private information about third parties, We reserve the right to delete inappropriate posts and ban offending users without notification. Our journalists will try to respond by joining the threads when they can to create a true meeting of independent Premium. We've received your submission. Married in an interfaith ceremony seven years ago, the couple has two young children, toddler Charlotte and infant Aidan. February 8, 2017 | 11:16am | Updated February 8, 2017 | 12:17pm. Having a hedge fund manager – with a failed hedge fund – in the family will do little to convince Hillary Clinton’s critics that she is not bound to Wall Street or its lobbyists. Brought to market in July 2014, the fund aimed to be a way to bet on the recovery of the Greek economy and raised $25 million from investors. Do Not Sell My Personal Information.
Contact Daniel J. Solomon at email@example.com or on Twitter @DanielJSolomon, Clinton Son-In-Law Shuts Failed Hedge Fund. Sitemap Start your Independent Premium subscription today.
It’s been a hard few months for the Clintons.
Yet the Greek banking crisis, which saw a political revolution in the country in reaction to being forced into austerity in return for a bailout from the EU, as well as a shutdown of its stock exchange to prevent massive falls in its stocks last year, has kept the fund from prospering. 47,497, This story has been shared 46,961 times.
Are you sure you want to mark this comment as inappropriate? And now Chelsea Clinton’s husband, Marc Mezvinsky, is having his own problems, closing his Eaglevale Partners hedge fund after it failed to meet expectations. One of the fund’s main backers was Goldman Sachs CEO Lloyd Blankfein, who was said to have raised money for the fund from other investors. And now Chelsea Clinton’s husband, Marc Mezvinsky, is having his own problems, closing his Eaglevale Partners hedge fund after it failed to meet expectations. The hedge fund business of Hillary Clinton's son in law has taken a hit with one of its funds closing its doors just two years after it failed to add value for investors. Anything for the In-Laws: Marc Mezvinsky sits with wife Chelsea Clinton during the closing Plenary session of the seventh Annual Meeting of the Clinton Global Initiative (CGI), which is run by her famous dad, Bill Clinton. Eaglevale Partners was founded in Manhattan by Mr Mezvinsky and two former Goldman Sachs colleagues, Bennett Grau and Mark Mallon.
This story has been shared 49,012 times.
Please be respectful when making a comment and adhere to our Community Guidelines. Less than two years after it launched, the Greek-focused fund in the Cayman Islands is shutting its doors, Find your bookmarks in your Independent Premium section, under my profile. Chelsea Clinton’s husband, Marc Mezvinsky, traded in family ties to boost his hedge fund, according to allegations made by longtime Bill Clinton staffer Doug Band in … Thanks for contacting us. There is a much larger minimum investment required, as well as net worth requirements. Due to the sheer scale of this comment community, we are not able to give each post the same level of attention, but we have preserved this area in the interests of open debate. It would have been a blow for executive Marc Mezvinsky, who married Chelsea Clinton in 2010, as he had pitched the idea for the portfolio, as reported by the New York Times. Are you sure you want to delete this comment? Yes, you should plan on traveling to see family for Thanksgiving, Video shows the moment 8-year-old was shot while trick-or-treating, New York is about to kill a whole lot of landlords, Salt Life co-founder charged after teen found shot at Florida hotel, Man leaps to his death from Manhattan skyscraper. By the end of that year, the partners acknowledged they may have been mistaken.
The rather small size of assets in the hedge fund would have also hindered its liquidity, with its underlying investments more difficult to buy and sell. 46,961, © 2020 NYP Holdings, Inc. All Rights Reserved
Hillary Clinton lost her presidential campaign back in November, after running as the heavy favorite for months.
Hillary Clinton’s son-in-law, Marc Mezvinsky, shuttered his hedge fund shortly after the election, according to a report.
Create a commenting name to join the debate, There are no Independent Premium comments yet - be the first to add your thoughts, There are no comments yet - be the first to add your thoughts. Chelsea Clinton and her husband Marc Mezvinsky. Please continue to respect all commenters and create constructive debates. Sorry, your blog cannot share posts by email. The Eaglevale Hellenic Opportunity Offshore Fund, a pooled investment fund domiciled in the Cayman Islands, lost 90 per cent of its value after its main investment – Greek banking stocks and government debt – failed to recover. Want to bookmark your favourite articles and stories to read or reference later? The loss in value for hedge fund managers may not fare well for investors but does not hurt the firm's partners too badly – they will have a larger tax loss on investments to claim against any gains in 2017. They are also highly opaque structures which do not always reveal what exactly they are invested in. Copyright ©2020The Forward Association, Inc.All rights reserved. Mezvinsky and Clinton attended Stanford together as undergrads. Eaglevale Partners, which Mezvinsky co-founded, was quietly closed and money returned to investors the month after Clinton lost to Donald Trump, Bloomberg reported. The hedge fund reportedly lost big by betting on Greece, with one element of the fund dropping by as much as 48 percent one year, the Wall Street Journal previously reported. Your Ad Choices You can also choose to be emailed when someone replies to your comment.
Hedge funds require millions of dollars to invest in, often using a so-called 2 and 20 fee structure, where investors pay high annual fees to the manager and a 20 per cent performance fee if the manager performs well. Clinton Son-In-Law Marc Mezvinsky Shuts Failed Hedge Fund. 49,012, This story has been shared 47,497 times.
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