One of the most anticipated hedge fund launches this year is even bigger than we thought
Brandon Haley's Holocene Advisors started trading April 3 with about $1.5 billion, according to a person familiar with the matter. The news was previously reported by Bloomberg. That figure is about $500 million more than was expected a little over a month ago.
Potential investors were told that the fund had attracted four separate $200 million investments, people familiar with the matter previously told Business Insider.
Two of those tickets came from Goldman Sachs Asset Management and BlackRock, Bloomberg reported.
The fund has long been expected to be one of this year's largest, with Haley said to be putting in a significant amount of his net worth into the fund. The firm will initially employ a stock strategy focused on the consumer, industrials and tech, and media and telecommunications sectors, people familiar with the firm said.
Holocene's launch size was already big by current hedge fund standards, and comes as some industry titans are shutting.
Haley previously was Citadel's global head of equities from 2005 to 2015. His New York-based firm, which is located north of Madison Square Park, employs 24 people, a person familiar with the firm said.