Charles W. Knapp is involved in the Cluett bid.

Trafalgar Holdings, a Los Angeles-based investment company controlled by the former chairman of Financial Corp. of America, has agreed to provide $70 million in financing to Bilzerian & Brodovsky, a Sacramento investment partnership that has proposed a $311-million takeover of Cluett, Peabody & Co., the partnership said. The proposal has been rebuffed by Cluett, but the investors said they may make a hostile bid.