By 30 October, 2009

The Asia team of hedge fund Stark Investments is leaving the firm to found their own hedge fund, but they don’t want to start from scratch.

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Teall Edds and Stuart Wilson, the Hong Kong-based principals of Milwaukee, Wisc.-based Stark, hope to buy Stark’s Asia business. The newly-independent firm would be renamed Orchard Capital. Negoatiations are ongoing, but Bloomberg News reports than an announcement could come as soon as next week.

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Should the buyout go through, Orchard would begin life with more than 20 staffers and a pair of offices, one in Hong Kong and another in Singapore, as well as some $1.5 billion in assets under management. It would continue to manage Stark’s two Asia funds, with $500 million in assets, as well as serving as subadvisor for another $1 billion of Stark’s assets. The firm is also mulling new fund launches as early as January.

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