CSFB's Stonefield in big hedge fund venture

Ex-CSFB Asia chairman launches Asian quant fund with multi-billion dollar ambitions.

Stephen Stonefield, CSFB's former Asia Pacific chairman, has teamed up with Rene Reiss, ex-Merrill Scientific, to set up a Singapore-based hedge fund, Precise Capital. The team will launch its first product, an Asian model-driven quant fund, in early 2005.

Stonefield says that the group will launch with a minimum of $50 million although he expects to raise between $250 to $500 million from institutional investors and private banks at an early stage. The Precise principals...

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