Clinton craps on hedge funds, siklas...
The New York firm shut down last month, sources said. Before launching his own firm, the longtime Clinton family friend was a partner and global macro portfolio manager at New York- and Rio de Janeiro-based investment house 3G Capital.
Why shutter so fast after the Hillary defeat? Hormats was included in the email loop. Siklas and Goldman Sachs were invested in a deep sea mining venture called Neptune Minerals.
Eaglevale, led by Mezvinsky and two former colleagues from Goldman Sachs, enjoyed early backing from blue-chip names including Goldman chairman Lloyd Blankfein and Avenue Capital founder Marc Lasry. The bonds gradually sank to levels by the end of the year, with temporary spikes, as investors alternately gained and loss confidence in the prospect of a bailout.
The closure took place just three years after Institutional Investor proclaimed Mezvinsky "a hedge fund rising star " in Demonstrators gather in front of the Parliament in Athens' main Syntagma square.
At a February summit meeting about the Eurozone debt crisis in Munich, Clinton urged leaders of the European Union to commit to a Greek bailout. One fund, exclusively dedicated to Greek debt, suffered near-total losses.
One source said Eaglevale "never got scale," suggesting that it failed to gather enough assets to be profitable - despite Mezvinsky's obvious advantages in the fund-raising arena. Facebook 0 Twitter 0 livefyre Email Print Hedge fund manager Marc Mezvinsky had friends in high places when he bet big on a Greek economic recovery, but even the keen interest of his mother-in-law, then-Secretary of State Hillary Clinton, wasn't enough to spare him and his investors from financial tragedy.
Hormats and Clinton shared an extensive email trail about the possibility of bailing out Greece, including classified materials, and internal state department memos about the debt from the U. No doubt, it was informative. But newly released emails from show that she and Clinton Foundation consultant, Sidney Blumenthal, shared classified information about how German leadership viewed the prospects for a Greek bailout.
For years, Grau led Goldman's highly profitable global-macro proprietary-trading business, which trained a generation of macro traders - including Mallon and Mezvinsky, who is married to Chelsea Clinton. DuringSecretary of State Clinton lobbied the leaders of European governments to bail out the Greek financial system.
Did Mezvinsky benefit from his family connection? The mere perception of a conflict of interest is unacceptable. Alas, he was anything but, and instead of having a real grasp of macroeconomic events, or how to - you know - hedge, he decided to dump millions in Greece just before the country entered a death spiral that culminated with its third bailout, capital controls, insolvent banks and a terminally crippled economy.
In other words, there were multiple opportunities for Greek-bond hedge funds to buy cheap and sell dear. Best known as the husband of Chelsea Clinton, Mezvinsky, 35, who has a BA in religious studies and philosophy from Stanford University and an MA in politics, philosophy and economics from the University of Oxford, has been quietly building his finance career.
At that point, Eaglevale employed nine people. Clinton stepped down as secretary of state in to run for president.
The giant brokerage firm has a checkered history of manipulating the value of Greek debt to the detriment of Greece. This information must not be shared with anyone associated with the German government.
Grau, Eaglevale's chief investment officer, is a veteran currency trader who began his career at commodity-trading shop J. However, sharing such sensitive information with friends and family would have been highly improper. Federal regulations prohibit the use of nonpublic information to further private interests or the interests of others.
Eaglevale Partners, a global-macro shop co-founded by Hillary Clinton's son-in-law, Marc Mezvinsky, is no longer in business. Fast forward to today when overnight, Hedge Fund Alert reported that some time around the end ofMezvnisky decided to shut down his entire operation: The emails show that Clinton did at least one official favor for her son-in-law.
Through its press representative, Olympics gambling odds declined to comment for this story. In lateMarc Mezvinsky co-founded New York-based, macro-focused hedge fund firm Eaglevale Partners with Bennett Grau and Mark Mallon, two Goldman Sachs Group proprietary traders whom he'd gotten to know when they all worked at the bank.
She advocated imposing austerity measures on Greece—raising taxes, cutting public employee salaries and eliminating social welfare programs—to make the la casino dealer school holding the debt happy.
Investors were told last month that Eaglevale Hellenic Opportunity would finally be put out of its misery and would shutter. Perhaps because without having links into the state department, or the broader US government, any "informational arbitrage" edge Mezvinsky had hoped to have with Hillary as president, was finally gone.