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 billio
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