New York: Chelsea Clinton, the daughter of former US president Bill Clinton, has started working for Avenue Capital Group, a hedge fund that manages about $1 billion in assets, the agency that represents her confirmed.
New York-based Avenue Capital specialises in trading in distressed debt, or debt of companies that are nearing or have filed for bankruptcy.
Clinton, 26, had been working as a consultant for McKinsey & Co since 2003, reportedly for a six-figure salary.
She received a master's degree from Oxford University after graduating from Stanford University in 2001.
Details, such as when she started work at Avenue Capital, her exact role and salary, were not released yesterday by the representing agency, Rubenstein Associates.
Clinton should not have to worry about the political leanings of Avenue Capital's top executives.
Federal records indicate Avenue Capital founders Marc Lasry and Sonia Gardner have donated thousands of dollars to Democratic lawmakers, including Chelsea Clinton's mother, Sen Hillary Rodham Clinton of New York, as well as to Democratic campaign committees.
Spokesmen for Chelsea Clinton's father, former President Bill Clinton, and her mother declined to comment on Saturday. Messages left with Avenue Capital were not immediately returned.
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