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.