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Mezvinsky hedge fund suffers huge setback - Adam B. Lerner - POLITICO

http://www.politico.com/story/2015/02/chelsea-clinton-mark-mezvinsky-hedge-fund-loss-114880.html

Mezvinsky hedge fund suffers huge setback
[image: Marc Mezvinsky, looks at a video as he sits with his wife
vice-chair Clinton Foundation Chelsea Clinton (C) and father -in-law former
US President Bill Clinton during the 2014 Clinton Global Initiative annual
meeting in New York September 24, 2014. AFP PHOTO/STEPHEN CHERNIN (Photo
credit should read STEPHEN CHERNIN/AFP/Getty Images)]

Getty
Mezvinsky hedge fund suffers huge setback

By Adam B. Lerner <http://www.politico.com/reporters/AdamBLerner.html>

2/3/15 5:50 PM EST

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
<http://www.wsj.com/articles/hedge-fund-co-founded-by-chelsea-clintons-husband-suffers-losses-tied-to-greece-1423000325?mod=WSJ_Business_LatestHeadlines>
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.

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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.
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Eric D. Schwerin
eschwerin@rosemontseneca.com

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