PARIS (HedgeWorld.com)–CPR Alternative Asset Management launched the LibertyView Statistical Arbitrage Fund with 60 million euro in seed money from parent company Cr?dit Agricole Indosuez.

Marc Blanchard, R?my Croisille and Lewis Smith in CPR’s quantitative group manage the fund, which was launched in early October, according to a statement from CPR. For now, the three will focus on European large capitalization stocks, using an internally developed statistical model to shoot for a net annual return of 10% to 15% with volatility of about 7%. Pierre Valentin heads the quantitative group.

The fund is domiciled in Ireland as a unit trust. The fund’s capacity is limited to 250 million euro. Executives for CPR couldn’t be reached for additional information on the fund. In July, CPR had hired Lane Dusserre as its new chief investment officer of equities, and had planned a new long/short equity fund to be launched by yearend.