A hot new hedge fund is gearing up for one of this year's biggest launches

A former Citadel money manager is gearing up for one of this year's biggest hedge fund launches.

Brandon Haley's Holocene Advisors is planning to launch with about $1 billion on April 3, according to people familiar with the situation.

The hedge fund firm is in capital raising mode, with Haley appearing at a Goldman Sachs emerging managers conference in Florida earlier this month, according to attendees.

Haley is expected to make a significant investment in the fund with his own capital. The firm will initially employ a stock strategy focused on the consumer, industrials and tech, media and telecommunications sectors.

Haley previously was Citadel's global head of equities from 2005 to 2015, according to a LinkedIn page.

The New York-based firm, which is located north of Madison Square Park, now has more than 20 employees. It hired Mitul Shah, a portfolio manager from Sol Kumin's Folger Hill, earlier this year, Business Insider reported.

Holocene joins Ben Melkman's Light Sky Macro as one of this year's most anticipated launches. The latter is expected to manage at least $400 million when it launches at the start of March.

Haley couldn't be reached for comment.