Clinton Son-in-Law’s Firm Is Said to Close Greece Hedge Fund

[NWCorona]

Source: Nyt

It was a hedge fund portfolio pitched by Hillary Clinton’s son-in-law, Marc Mezvinsky, as an opportunity to bet on a Greek economic revival.

Now, two years later, the Greece-focused fund is shutting down, after losing nearly 90 percent of its value, according to two investors with direct knowledge of the matter who spoke on the condition of anonymity.

Investors were told last month that the fund would close. The fund, Eaglevale Hellenic Opportunity, had raised $25 million from investors to buy Greek bank stocks and government debt.

Eaglevale Partners, a Manhattan hedge fund firm founded by Mr. Mezvinsky and two former Goldman Sachs colleagues, raised money for the Hellenic fund at a time when some on Wall Street had hopes for a revival in the Greek economy. For a time, Mr. Mezvinsky appeared at hedge fund conferences promoting the Greece investment thesis.

Read more: http://mobile.nytimes.com/2016/05/11/business/dealbook/clinton-son-in-laws-firm-is-said-to-close-greece-hedge-fund.html?smid=tw-nytimesbusiness&smtyp=cur&_r=2&referer=http://www.weeklystandard.com/article/2002345

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At least they bet on Greece recovering and not folding.

[snot]

1. I'd be curious to know what parties benefitted from sales of shares in this fund.

I'm guessing there were some people betting against Greece, who needed counterparties.

[NWCorona]

2. That could be.

[snot]

3. Of course, the son-in-law could just be really obtuse about economics.

[JustABozoOnThisBus]

4. Only if he lost money.

I'm sure his investors are not happy, but Mezvinsky (and Clinton) probably did not lose a dime. They probably made a tidy sum from the transactions.

[Major Nikon]

6. The investors may still be happy

The primary reason they invested in the first place probably had nothing to do with money, at least directly.

[Major Nikon]

5. The smart play would have been to invest in cattle futures

[jomin41]

7. It sounds like they were betting on "austerity"!

They thought austerity measures would surely wring sufficient euros from the rabble to make the vigorish.

[Darb]

8. Shall we blame Hillary? Oh...let's.

HILLARY WAS BEHIND THIS HEDGE FUND. AS A MATTER OF FACT, SHE WAS THE CAUSE OF THE GREEK COLLAPSE. IT WAS HILLARY I SAY!!!!!!!!!!!! HHHIIIIIILLLLLAAAAAARRRRRRRYYYYYYYYYY!!!!!!!!!!!!!!!!!!

[Angel Martin]

13. 90 percent losses can't be put on Hillary

when it comes to financial markets, she wins even if the odds are 31 trillion to one

http://link.springer.com/article/10.1007%2FBF02920493

[GummyBearz]

9. Now that he doesn't have a job he can join the cabinet

Now introducing our new secretary of treasury..

[NWCorona]

10. Or go on the speaking circuit.

[Sunlei]

12. lost 90% of its value! I guess they had Hoped for a Greek bailout bonanza.