Wednesday, 24 August 2016
Last updated 2 hours ago
Feb 2 2012 | 3:05am ET
Goldman Sachs' private equity fund of hedge funds has consoled itself over Lee Robinson's departure from Trafalgar Asset Management by taking a stake in his new hedge fund.
Goldman's Petershill Fund, which invests in hedge fund management firms, was given the right to invest in new ventures set up by Robinson if he were to leave Trafalgar. He did last year, setting up Altana Wealth. Petershill, which bought one-fifth of Trafalgar in 2008, has now exercised that option.
Altana is already running three hedge funds, including a distressed debt vehicle managed by Robinson.
In addition to Altana and Trafalgar, Petershill has invested in some of the biggest names in the industry, including Capula Investment Management and Winton Capital Management.