Gottex Fund Management dodged a bullet in 2004. The Lausanne, Switzerland-based fund-of-funds firm conducted due diligence on Greenwich, Connecticut-based hedge fund firm Amaranth Advisors, but concerns about fees, liquidity and transparency persuaded Gottex not to invest. Within two years the multistrategy hedge fund firm, which managed up to $9 billion at its peak, lost $6.6 billion in an ill-timed bet on natural gas futures. Gottex initially was a hedge fund manager and later developed a fund of hedge funds business, launching its first fund, the Gottex Market Neutral Fund, in 1999…