Mezvinsky hedge fund suffers setback

A hedge fund co-founded by Bill and Hillary Clinton’s son-in-law Mark Mezvinsky lost investors millions due to unfortunate bets on the Greek economy, the Wall Street Journal reported Tuesday.

Mezvinsky and his two co-founders, all Goldman Sachs alums, wrote to investors in their Eaglevale Partners LP that they were “incorrect” in their predictions about the Greek economy. These predictions led the fund to decrease by 3.6 percent last year, while similar hedge funds gained during a period of American economic growth.


After the leftist party Syriza party triumphed in Greek elections last week and Alexis Tspiras became prime minister, the fund’s founders, including Mezvinsky, sent out a message lamenting their incorrect predictions. “We are reticent to render decisive predictions at this time,” the three added.

One Eaglevale fund of around $15 million solely emphasized investments in Greece and lost 48 percent of its value last year, according to the Journal.

Chelsea Clinton and Mezvinsky tied the knot in 2010. The couple had their first child, Charlotte, last September.

Mezvinsky, the son of former Pennsylvania Rep. Marjorie Margolies-Mezvinsky, and his partners founded Eaglevale at the end of 2011, with the help of Goldman Sachs executives including CEO Lloyd Blankfein, who is currently an investor in Eaglevale’s main fund.

The fund lost 1.96 percent in 2012 and gained 2.06 percent in 2013, before 2014’s losses. The Journal reported that Eaglevale still believes Greek equities are due to increase and will continue to invest in the country.