Hillary Clinton's son-in-law is shutting down one of his funds
The fund, Eaglevale Hellenic Opportunity, was betting on a possible Greek comeback in the depths of its years-long financial crisis. The fund had raised $25 million, which will now be returned to investors according to the report from the Times.
The Wall Street Journal reported in February that the Greece-focused fund lost 48% in 2015.
Mezvinsky is married to Chelsea Clinton, Hillary and former President Bill Clinton's only child.
The fund was first started in 2011, according to the report, and has produced disappointing performance due to the continuing economic issues in Greece as well as the difficult environment for hedge funds in general.
The Times reported that the firm has sent a letter to clients in 2014 expressing confidence in an economic recovery in the country. Since that time, Greece has gone through another round of negotiations with the European Union and International Monetary Fund and faced more political turmoil.
The fund was just one run by Mezvinsky's firm, Eaglevale Partners, which he formed with two former Goldman Sachs partners and counts Goldman CEO Lloyd Blankfein as one of its earliest investors. The firm now has around $400 million is assets, but has come under scrutiny for poor performance in the past.
Read the full report from the New York Times here»