A New York Times article raised the issue of the Clintons’ hedge fund manager son in law, Marc Mezvinsky, who may have benefited from newly formed family ties to raise money from his hedge fund, although it probably wasn’t enough to cause a major scandal. Then again, it doesn’t take much for critics to smell a smoking gun.
Matthew Goldstein and Steve Eder wrote that Mezvinsky’s Eaglevale partners had several early investors who were associated with the Clintons, including Goldman Sachs CEO Lloyd Blankfein. While the hedge fund is not required to disclose its investors, some of them have contributed large sums to the Clintons’ campaigns and their Foundation, and it is likely Hillary will run for President in 2016.
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Marc Lasry, a friend of the Clintons and a donor and co-founder of the hedge fund Avenue Capital invested $1 million in Eaglevale. He told the New York Times, “I gave them money because I thought they would make me money.” Chelsea Clinton worked at Lasry’s $13 billion fund shortly after graduating from Stanford.
Concerning those associated with the Clinton Foundation and the “family” hedge fund, Foundation spokesman Kamyl Bazbaz, told the New York Times, “Where our supporters choose to invest is obviously their personal prerogative and ha nothing to do with the foundation in any respect.”
The connection with Clinton donors might not have had such a huge impact on the underperforming hedge fund. Only 10% of its $400 million assets under management are from those connected to the Clintons. But no amount is too small for the political fallout that might ensue when Clinton’s opponents make this an issue.
