Adam Leitzes, who helped assess investments for Tiger Management LLC in Shanghai, is planning to start his own hedge fund targeting Asian stocks reported Bloomberg this week, citing two people familiar with the plan. They said that Leitzes might commence trading with USD50million in the second quarter. A license for his Hong Kong-based Karst Peak Capital Ltd company has been approved by the city’s financial regulator, the SFC. Leitzes declined to comment on his intentions for the fund. New managers spinning out of existing hedge funds or high-profile prop shops often enjoy successful capital raising: Carl Huttenlocher, the former Asia head of Highbridge Capital Management LLC, launched last December with more than USD300million for his Myriad fund and is targeting USD2billion, while former Goldman’s prop trader Morgan Sze launched Azentus Capital with USD1billion last April. Asian start-ups by new and existing managers raised USD4.43billion in 2011, the highest figure since 2007, according to a new survey released by an Asian-based hedge fund trade journal.