Morgan Stanley takes stake in new hedge fund

MSIMÆs involvement means Abax may debut with up to $1 billion of assets.

Chris Hsu, who left Citadel in late 2006, has wooed Morgan StanleyÆs investment-management arm to participate as a minority investor in his new hedge fund asset managment company, Abax Global Capital Limited. A spokesperson for Morgan Stanley was not able to disclose the price paid, nor the percentage size of the stake purchased.

AbaxÆs avidly awaited fund will invest in Asian special situations and the unconfirmed market buzz is that it will launch with $1 billion of assets. The fund...

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