This is cause for celebration! Seems like the Clinton’s empire is collapsing all around them. We should write thank you notes.
Chelsea Clinton’s hedge fund boss husband has refused to apologize to investors – despite losing nearly $25 million in a calamitous gamble on the Greek economy.
Marc Mezvinsky, 38, persuaded clients to pour cash into the struggling European country in the hope it would bounce back and deliver massive profits. But after buying up government debt and bank stock, the dramatic upturn he and his partners predicted failed to materialize and the fund’s value plunged by an estimated 90 percent.
Mezvinsky and former Goldman Sachs colleagues Bennett Grau and Mark Mallon are reported to have finally pulled the plug on the failed investment last month.
But when Daily Mail Online approached Mezvinsky outside his $10 million Manhattan apartment he refused to discuss the Greek tragedy – or reveal why their firm, Eaglevale Partners, took so long to close it down.
The Stanford graduate also declined to issue an apology to Eaglevale investors, who are said to include a string of wealthy Clinton backers and campaign contributors.
Casually dressed in blue jeans and a grey polo shirt, Mezvinsky said he had ‘nothing to say’ before dashing inside the swank 5,000-square foot residence overlooking Madison Square Park. It seems unlikely that he and Chelsea, 36 – pregnant with the couple’s second child – will be left out of pocket, however, as hedge fund bosses typically pick up management fees in spite of losses.
Former investment banker Mezvinsky and his high-rolling partners started up their multi-million dollar venture, Eaglevale – named after a bridge in Central Park – in 2011, one year after his marriage.
They control an estimated $330 million portfolio of so-called global macro funds, where traders try to make money by predicting major financial and political events.
Mezvinsky’s former boss of eight years, Goldman Sachs CEO Lloyd C. Blankfein, was one of the first high-profile investors. Others are said to include a number of wealthy Clinton family supporters, some of whom have contributed campaign money to either Bill or Hillary, according to The New York Times.
Among them is leading financier, Marc Lasry, co-founder of $13 billion hedge fund Avenue Capital, where Chelsea worked after graduating from Stanford.
‘I gave them money because I thought they would make me money,’ Mr Lasry told The Times last year, after investing $1 million in Eaglevale and urging a relative to do the same.