A month after Hillary Clinton was defeated in the 2016 presidential election, Chelsea Clinton’s husband Marc Mezvinsky closed his hedge fund.
Bloomberg reports that Mezvinsky’s financial firm, Eaglevale, is currently returning money to its investors.
Eaglevale is the second establishment linked to the Clintons that has shut down after the family was dealt a crushing political blow by Republican President Donald Trump.
The Clinton Foundation announced in January that it would cease operation of the Clinton Global Initiative and lay off numerous employees. A decrease in donations following Clinton’s election loss precipitated the decision.
In 2015, The Washington Free Beacon cited reports that Mezvinsky was not very good at his job, and warned readers not to invest money with Eaglevale. Mezvinsky made a particularly risky bet on the Greek economy that ended up costing investors almost $25 million. The loss likely contributed to the decision to close the fund.
Despite Mezvinsky’s stumble, the hedge fund brought in a large number of investors who hoped to cash in on the firm’s political connections.
Eaglevale investors included Goldman Sachs chairman and Clinton fundraiser Lloyd Blankfein, and Marc Lasry, a high-dollar Democratic donor associated with an alleged Russian mobster.
Mezvinsky’s father, Ed Mezvinsky, served a five-year federal prison term after he was convicted of cheating investors out of $10 million through a Ponzi scheme.
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