Tuesday, February 3, 2015

Eaglevale Clipped by Greek Implosion

ZeroHedge reported:

Despite having Goldman Sachs CEO Lloyd Blankfein as an investor and being Bill and Hillary Clinton's son-in-law, Marc Mezvinsky (and two former colleagues from Goldman Sachs who manage Eaglevale Partners hedge fund) told investors in a letter sent last week they had been "incorrect" on Greece, helping produce losses for the firm’s main fund during two of the past three years. By 'incorrect' Chelsea Clinton's husband means the Eaglevale fund focused on Greece lost a stunning 48% last year.

The trio formed Eaglevale in 2011.  Trading began mid-2012.  SEC filings show four Eaglevale funds, with two of the four based in the Cayman Islands.  Imitation is the greatest form of flattery.

Update 2-8-17:  Eaglevale closed shop for good in December and will return money to investors.