BUSINESS

Fund of Clintons' son-in-law folds after huge Greek losses

ILIAS BELLOS

TAGS: Business

The shutdown of the hedge fund created by Bill and Hillary Clinton’s son-in-law Marc Mezvinsky constitutes a sad end to an investment effort closely associated with the endeavor to get the Greek economy back on a healthy course, just as Minister of State Nikos Pappas travels to New York to meet US funds in a bid to attract investment.

Mezvinsky, the founder and manager of the Eaglevale Hellenic Opportunity hedge fund was forced to dissolve it after incurring huge losses, amounting to some 90 percent of its capital, according to the New York Times.

Eaglevale Hellenic Opportunity is thought to have amassed no more than $25 million, but Mezvinsky’s high profile and his ties to the Clintons and the Wall Street ensured constant publicity for him. However, this publicity has now soured for Greece.

Mezvinsky and his wife Chelsea Clinton were in the front row at the televised discussion between former US President Bill Clinton and Greek Prime Minister Alexis Tsipras at the end of September at the Clinton Global Initiative’s annual meeting in New York. A few months earlier, Mezvinsky had been forced to apologize to his fund’s stakeholders for losing half of their money – at the time – that had been placed in Greek banking stocks and state bonds. The losses later multiplied.
 

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