Nelson Peltz, the US activist investor, has teamed up with the Qatar Investment Authority to increase his stake in Cadbury Schweppes .

Trian, Mr Peltz’s investment vehicle, recently formed a special-purpose vehicle with QIA, which it has used to buy derivatives contracts to lift its exposure to the UK drinks and confectionery group . This has boosted Trian’s economic interest in the group from 3.4 per cent to slightly below 5 per cent, according to people familiar with the matter.