By Lee Fang
WHEN HILLARY CLINTON’S son-in-law sought funding for his new hedge fund in 2011, he found financial backing from one of the biggest names on Wall Street: Goldman Sachs chief executive Lloyd Blankfein.
The fund, called Eaglevale Partners, was founded by Chelsea Clinton’s husband, Marc Mezvinsky, and two of his partners. Blankfein not only personally invested in the fund, but allowed his association with it to be used in the fund’s marketing.
The investment did not turn out to be savvy business decision. Earlier this month, Mezvinsky was forced to shutter one of the investment vehicles he launched under Eaglevale, called Eaglevale Hellenic Opportunity, after losing 90 percent of its money betting on the Greek recovery. The flagship Eaglevale fund has also lost money, according to the New York Times.
There has been minimal reporting on the Blankfein investment in Eaglevale Partners, which is a private fund that faces few disclosure requirements. At a campaign rally in downtown San Francisco on Thursday, I attempted to ask Hillary Clinton if she knew the amount that Blankfein invested in her son-in-law’s fund.
After repeated attempts on the rope line, I asked the Clinton campaign traveling press secretary Nick Merrill, who said, “I don’t know, has it been reported?” and said he would get in touch with me over email. I sent the question but have not heard a response back.