Goldman Sachs' Petershill venture, a private equity fund that buys minority stakes in alternatives managers, has backed Altana Wealth, a new hedge fund manager set up by Lee Robinson, Financial News has learned.

Robinson was co-founder of Trafalgar Asset Managers, a hedge fund manager in which Petershill bought a 20% stake in April 2008. The terms of the agreement gave Petershill the right to retain a passive minority stake in a new future venture set up by Robinson, according to a person familiar with the situation. Petershill has now taken up these rights, the person said.