Brian Hunter, the energy trader whose portfolio triggered the collapse of $9bn (€6.5bn) US hedge fund manager Amaranth Advisors, has become a consultant to a new commodities hedge fund run by US private equity firm Peak Ridge Capital.

Hunter is expected to invest $10m in the new fund, which will trade natural gas, crude oil and electricity options, according to SparkSpread, the online energy news service, which cited a source familiar with the situation.