The New York Times threw shade at Bill and Hillary Clinton's son-in-law, Marc Mezvinsky.
The article by Matt Goldstein and Steve Eder suggested that Mezvinsky, who is married to Chelsea Clinton, had been able to get access to investors with ties to the Clintons for the hedge fund he cofounded that has had "underwhelming returns."
About a month ago, The Wall Street Journal published a report about the fund's underperformance since its inception. The Times' report focuses primarily on Mezvinsky and his role in fund-raising and strategizing for the fund.
Back in 2011, Mezvinsky, now 37, and two former Goldman Sachs colleagues — Bennett Grau and Mark Mallon — began raising money for Eaglevale Partners LP.
Some of Eaglevale's investors include hedge fund billionaire Marc Lasry and Goldman Sachs CEO Lloyd Blankfein, the report said.
Lasry, a long-time Clinton friend, runs Avenue Capital, where Chelsea previously worked after graduating from Stanford. Lasry told The Times that he "gave them money because I thought they would make me money."
A Goldman spokesman told The Times that Blankfein invested in Eaglevale because of his relationship with Grau, the fund's chief investment officer. At the DealBook Conference in December, Blankfein, who has been a strong supporter of Democrats in the past, said he had "always been a fan of Hillary Clinton."
Hillary Clinton is expected to announce her presidential campaign soon.
But one source said Mezvinsky didn't raise that much money.
A person briefed on the matter and close to the firm said the amount of investor money recruited by Mr. Mezvinsky is not large, amounting to less than 10 percent of the firm’s total outside capital. Clinton supporters also say there are more direct ways to cultivate favor with the family, such as giving to the foundation, where Chelsea Clinton is vice chairwoman, than by investing with a hedge fund that her husband co-founded.
Eaglevale manages about $400 million in assets.
For more on the possible ties to the Clintons, check out the report at The New York Times >>
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