A FRENCH REVOLUTION? MACRO MAGNET PREMIA LEAGUE With Brexit looming, can Paris prosper Investors flock to Europe’s global macro La Française on their $3.4bn range of as an alternative industry hub? funds as rates rise and volatility grows alternative risk premia products OCTOBER 2018

OCTOBER 2018

ROBINSON’SROBINSON’S RETURNRETURN ONE OF THE BIGGEST NAMES OF THE NOUGHTIES IS BACK: LEE ROBINSON OPENS UP ON CRYPTO, BREXIT AND PLANS FOR HIS RAPIDLY-GROWING FIRM COVER FEATURE ALTANA WEALTH

Disclaimer: This publication is for information purposes only. It is not investment advice and any mention of a fund is in no way an offer to sell or a solicitation to buy the fund. Any information in this publication should not be the basis for an ­investment decision. EuroHedge does not guarantee and takes no responsibility for the accuracy of the information or the statistics contained in this document. Subscribers should not circulate this publication to members of the public, as sales of the products mentioned may not be eligible or suitable for general sale in some countries. Copyright in this document is owned by Pageant Media Limited and any unauthorised copying, distribution, selling or lending of this document is prohibited. EUROHEDGE MEETS… LEE ROBINSON

BY WILL WAINEWRIGHT

One of the biggest names of the noughties is back. Lee Robinson speaks out on crypto, Brexit and plans for his rapidly-growing firm

ee Robinson made his damaging, but the most destructive firm’s more recent progress. After years name – and many mil- event for hedge funds and their ability out of the spotlight, he has given Euro- L lions – co-founding the to raise money was Madoff,” says Rob- Hedge his first major interview to mark event-driven specialist inson. “Investors – whether families, the firm’s swift growth and success in Trafalgar Asset Managers in the nough- individuals or fund of funds guys – who an array of strategies. ties. The industry’s pre-crisis heyday had for years done things on trust Robinson’s return to prominence has was good to the outspoken Austral- found themselves blown out of the wa- resulted in part from the success of the ian, who honed his trading skills at ter. It destroyed confidence in process Altana Digital Currency Fund (ADCF), Bankers Trust and Tudor Investments and due diligence.” which posted a quadruple-digit return in the 1990s. In 2008, Robinson and Investors flocked to the biggest firms last year. He drew headlines as one of co-founder Theo Phanos sold a stake in as allocators plumped for firms that the first mainstream man- Trafalgar to Petershill, the private equi- they would not be fired for selecting. agers to take on cryptocurrencies – but ty unit owned by Goldman Sachs. “It killed the hedge fund industry for a his firm also runs products in more va- So far, so familiar. Robinson’s story in long time and changed the investment nilla areas, such as event-driven credit the decade after the financial crisis is industry forever,” adds Robinson. and corporate bonds. less well-known. After starting a fam- Altana Wealth relied mainly on his Investors are taking notice, with as- ily office in Monaco, he eventually left fortune for several years. “I grossly sets more than doubling since the mid- Trafalgar – which continues today as underestimated how difficult it would dle of 2017 to about $500m. Altana CapeView Investments – to focus on his be,” he admits. But the 49-year-old has grown from a 12-person operation new venture, Altana Wealth. has no regrets, particularly given the to 30 and further growth seems likely. “Starting Altana then was a terrible Robinson was met with interest from FIRM FACTS decision in hindsight,” Robinson, in typ- institutions when he recently visited ically candid style, tells EuroHedge at ALTANA WEALTH New York for the first time in three his firm’s office. “It was incredi- years. Elevation to the Billio