The Rise of the Hermitage Fund

Bill Browder's journey to becoming the largest foreign investor in Russia began with his unique background as the grandson of a prominent communist leader. After graduating from Stanford Business School in 1989, the same year the Berlin Wall fell, he sought to invest in Eastern Europe, particularly Russia. His breakthrough came when he discovered an incredible opportunity involving the Murmansk Trawler Fleet, where a $2 billion fleet could be acquired for just $2.5 million. This realization inspired him to establish the Hermitage Fund, which grew to manage $4.5 billion, positioning Browder as a significant player in the Russian investment landscape during a time when the oligarchs were at their peak.