Carl Huttenlocher, former Asia head of JPMorgan Chase & Co's Highbridge Capital, said he would launch a hedge fund with more than $300 million on December 1 after a delay in obtaining regulatory approval.

In a rare media briefing by a hedge fund manager in Hong Kong, the industry veteran said he expected to raise $2 billion by June 2012 after which he would close his fund to investors.

Huttenlocher received an asset management license on Friday to start operations in Hong Kong, the Securities and Futures Commission (SFC) website showed on Sunday.

The license for Huttenlocher's much-anticipated hedge fund company, Myriad Asset Management, had been delayed because of a review by the regulator after an anonymous complaint.

We decided to get going right away, Huttenlocher, who quit Highbridge Capital in March, told reporters.

It's probably the longest I have gone without investing in a long time, said the hedge fund manager, who managed Highbridge's Asia-focused fund, which once had about $2 billion in assets under management.

Huttenlocher is launching Myriad Opportunities Master Fund Ltd, a multi-strategy hedge fund with a focus on the Asia Pacific region and asset classes such as equities, convertibles, credit and corporate bonds.

Huttenlocher has picked Credit Suisse and Deutsche Bank as his prime brokers, a source with direct knowledge of the matter said.

(Reporting by Nishant Kumar; Editing by Jonathan Hopfner and Ken Wills)

Credit Suisse Investment Launch