Launches & Closures

Trafalgar winding down Catalyst, makes new appointments


Trafalgar Asset Managers, the European hedge fund group headed by Lee Robinson and Theo Phanos, has told investors that it plans to wind down Trafalgar Catalyst, the firm’s flagship event-driven fund since its inception in 2001.

The announcement was seen by some investors as slightly surprising – given that the fund came through the financial crisis very impressively, with a positive return in 2008 despite paying out huge redemptions, and was still running assets of close to $400 million last month despite lacklustre returns over the past year or so.

The fund, which was running about $1 billion