Hedge fund manager Orchard Capital Partners, which spun-off Stark Investments in 2009, said it has launched a new long/short fund on Thursday which it aims to grow to $500 million in two-three years. The fund, Orchard Gemini, which began trading in January is expected to open up to outside investors in April 2010. Orchard was formed in October 2009 after Teall Edds and Stuart Wilson who were running Stark's Asia investments quit the Milwaukee-based hedge fund taking the firm's Hong Kong and Singapore operations with them.This new long/short fund will look to invest across the region, most notably in Australia, South Korea, Hong Kong, Singapore, Japan, India, China, Taiwan and Indonesia, said Orchard Capital in a statement.   more »