Ex-Sequoia investor Jeff Wang's new hedge fund had Morgan Stanley's Breakers conference abuzz

Jeff Wang was a longtime investor for Sequoia before starting his own firm.

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• Jeff Wang is planning to launch Augnition Global Investors later this year.
• At Morgan Stanley's annual Breakers conference in Palm Beach, the new fund was the talk of the event.
• The new hedge fund could raise $1 billion, several people who attended the conference said.

Attendees of Morgan Stanley's annual investor conference at the posh Breakers resort...