Adding to the wave of imminent Asian hedge fund launches is All-Stars Investment Fund, a Hong Kong-based strategy tipped to come to market by the end of the year.

The fund, which will invest in internet technology leaders and consumer brands, is in the process of obtaining the relevant licences and aims to launch with a minimum of $100 million, say sources.

Richard Ji Weidong, formerly head of Asia-Pacific internet and media investment research at Morgan Stanley from 2005 to 2012, is setting up the fund, alongside Fu Mingxia, formerly China head at Morgan Stanley Private Wealth Management.

All-Stars is being advised on the launch by Tokyo-based firm Rogers Investment Advisors, say sources. Rogers declined to comment, and neither Ji nor Fu could be reached by press time.

Other hedge funds are also in the pipeline involving some big industry names.

Millennium Management spinout Symmetry Investment Management is expected to launch in the first quarter of 2014 with $1.4 billion ($1.2 billion from Millennium and $200 million from outside investors), say sources. This would make it the biggest ever Asian hedge fund launch.

It is understood that Millennium portfolio manager Feng Guo and the firm’s regional manager, Michael Robinson, will run the strategy out of Hong Kong, with Robinson relocating from Singapore to that end. Millennium did not respond to a request for comment by press time.

The $18 billion US hedge fund has seen some significant staff changes in Asia this year, having poached Kirk Sweeney from Barclays in August as regional CEO to replace Cho Kunho, who left in March. It also hired Kurt Baker in the first quarter as Asia head of business development, a newly created role.

Another fund tipped for launch early next year is the one being set up by Jason Brown, former global head of special situations at Goldman Sachs based in Hong Kong. Sources say the manager's name is Arkkan and that it will likely target at least $1 billion, as that is the typical benchmark for a special situations strategy. Brown could not be reached for comment by press time.

Meanwhile, Nighthawk Capital, an equity long/short fund being set up by Thomas Monaco, formerly of FrontPoint Partners, is due to come to market later this year, say sources. AsianInvestor could not ascertain the launch AUM or fundraising target or reach Monaco by press time.

Even private equity shops are getting in on the action. China's Saif Partners is readying the SPQ Asia Opportunities Fund, which is expected to come to market this month with a fundraising target of $500 million. The strategy will be the $3.5 billion firm’s first hedge fund, and Beijing-pased partner Brandon Lin is leading the launch.