A new hedge fund is planning to leverage the status of former International Monetary Fund chief Dominique Strauss-Kahn as an expert on global finances, as well as his thick rolodex, to raise $2 billion, notably in Asia.

The fund, which is awaiting regulatory approval from Luxembourg authorities, is being set up by LSK & Partners, a financial firm founded last year by Strauss-Kahn and Franco-Israeli businessman Thierry Leyne.