Hong Kong-based hedge fund, Samena Capital, and Swiss private bank and money manager, Reyl & Cie, are planning to raise $250 million in a seed fund, Reuters reports. The companies have invested $25 million each in the Samena Angel Fund II, which is expected to be launched by October 2011. The seed fund will invest in hedge funds focusing on Asia, the Middle East and North Africa. Reyl has also acquired a 50% stake in Samena Asia Managers, Samena Capital’s hedge fund seeding business, forming a joint venture.

Click here for the story from Reuters.

Click here for the additional coverage from Opalesque.