Goldman Sachs Is Furious That A Star Hedge Fund Manager Is Leaving His Fund After They Bought A 20% Stake In It

lee robinsonGoldman v. Robinson.

Photo: Altana

One of the main reasons that Goldman Sachs invested in Trafalgar Asset Managers is because of a man called Lee Robinson.But Robinson, “an outspoken hedge fund manager” and a native of Australia, is quitting Trafalgar to launch his own fund.

And Goldman, which has a 20 per cent in Trafalgar through its Petershill’s fund, is not happy.

Robinson has been fundraising in Monaco, where he lives, “in defiance of the bank” FT reports.

Robinson ran Trafalgar’s flagship fund until it was forced to liquidate in April. He had wanted to run a global macro strategy at the firm, but was apparently told no.

“His move is understood to have drawn fire from investors and Goldman Sachs… which acquired [a stake] at significant expense in 2008,” according to the FT. “Petershill’s management are said to be angered by Mr Robinson’s decision to start a new company and in effect stop managing money at his old firm, damaging the value of their holding.”

Robinson earned a degree in mathematics from Cambridge, and then “built and managed Tudor Capital’s Global Event Driven business.” He previously worked at Deutsche Bank.

“Trafalgar is one of London’s best-known hedge funds and earned its reputation by investing in takeovers and company restructurings,” the Telegraph said. Goldman through Petershill, a private equity vehicle it runs, paid between $50 to $100 million for its stake.

The firm managed to dodge the financial crisis and “more than doubled profits” in 2008.

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