Bloomberg News

Goldman Sachs Unit Takes Stake in Robinson’s Altana Hedge Fund

February 01, 2012

Feb. 1 (Bloomberg) -- A Goldman Sachs Group Inc. unit will take a stake in Lee Robinson’s Altana Wealth Ltd. after holding an earlier investment in his previous hedge fund.

Goldman’s Petershill fund has exercised its right to invest in Monaco-based Altana, which Robinson started last year after leaving Trafalgar Asset Managers, Altana said today in a statement. Petershill was given the right to invest in any new venture set up by Robinson, 42, when it bought a 20 percent stake in Trafalgar in 2008.

Altana runs three hedge funds, including the Altana Sovereign Diversity fund, which tries to profit from movement of wealth to emerging markets from the U.S. and Europe. Trafalgar, which Robinson founded with former Deutsche Bank AG executive Theo Phanos, oversaw about $2.8 billion at its peak.

Robinson, who serves as Altana’s chief investment officer, is personally managing a hedge fund at the firm that will invest in distressed debt, according to the statement.

Goldman Sachs started the $1 billion Petershill fund in 2007 to make minority investments in about 15 hedge funds. Its best investments include buying stakes in Winton Capital Management, a London-based hedge fund that manages about $26 billion, and Capula Investment Management LLP, a London-based fund that oversees $12.5 billion.

In April 2010, Petershill bought a stake in Level Global Investors LP that became worthless after the $4 billion hedge fund was shut down following a raid by the Federal Bureau of Investigation over an insider-trading investigation. Jonathan Sorrell, who oversaw Petershill, stepped down in August to join Man Group Plc, the world’s biggest publicly traded hedge fund, as head of strategy.

--Editors: Gregory Mott, Anthony Gnoffo

To contact the reporter on this story: Jesse Westbrook in London at jwestbrook1@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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