Independent thinkers
The managers at ABS faced a stark decision in a former life at a large investment bank: leave and earn by performance fee, or join the asset gatherers. They explain which route they took, and why
In 2002, Laurence Russian and the other managers at ABS Investment Management faced a dilemma many fund of hedge fund managers would die to have. Along with Alain de Coster and Guilherme Valle, they were managing $3.4bn at Credit Suisse First Boston (CSFB), money that had grown through investment performance and inflows between 1994 and 2002.
Their Garantia fund of hedge funds had grown from $30m in 1994, tipping $1bn in December 1997 before it was sold to CSFB in 1998.
Three point four billion -
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