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Hedge-Fund World’s One-Man Wealth Machine

WSJ – In the Back Bay neighborhood of Boston, one man is building a moneymaking machine that rivals some of the hedge-fund industry’s biggest names.

Calls to his office go unreturned even from those eager to fork over eight-figure sums, potential investors say. One industry veteran referred to him as “a unicorn,” as few people have ever seen him.

The hedge-fund manager, David Abrams, has personally become a billionaire, and earned billions more for his wealthy investors, over the past five years running what is effectively a one-man shop, according to company and investor documents reviewed by The Wall Street Journal and people who have worked with him. His firm, Abrams Capital Management LP, manages nearly $8 billion across three funds and is discussing raising money for a fourth fund that could help push its assets past $10 billion.

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