New York-based Eaglevale Partners, the hedge fund co-founded by Marc Mezvinsky, closed in December and is in the process of returning money to clients, according to Bloomberg and as reported earlier by Hedge Fund Alert
Mezvinsky’s foray into the hedge fund world has been plagued with troubles. In May 2016, Mezvinksy closed down Eaglevale Hellenic Opportunity, which was betting on a possible Greek comeback from the depths of the country’s years-long financial crisis.
The Wall Street Journal reported in February that the Greece-focused fund lost 48% in 2015 because of the continuing economic issues in Greece as well as the difficult environment for hedge funds in general.
Eaglevale Partners was cofounded in 2011 by former Goldman Sachs traders Bennett Grau, Mark Mallon and Mezvinsky, who worked together on the bank’s global macro proprietary-trading desk. Goldman CEO Lloyd Blankfein was one of the firm’s earliest investors.