One of the largest hedge fund launches of the year is closing its doors to new money
Reuters/Jason Lee
Holocene Advisors, a New York-based firm that launched in April, is closing to new capital, including from existing investors, on July 1, people familiar with the matter said.
The firm is expected to manage around $2 billion, up from the $1.5 billion that it launched with three months ago.
It is not clear when the firm will reopen to outside money.
Holocene's size was already big by current hedge fund launch standards, and comes as some industry titans are shutting.
The fund has long been expected to be one of this year's largest, with founder Brandon Haley said to be putting in a significant amount of his net worth into the fund. The firm was expected to initially employ a stock strategy focused on the consumer, industrials and tech, and media and telecommunications sectors, people familiar with the matter previously told Business Insider.
Haley previously was Citadel's global head of equities from 2005 to 2015.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market