One of the largest hedge fund launches of the year is closing its doors to new money

One of the largest hedge fund launches of the year is closing its doors to new money.

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 $US2 billion, up from the $US1.5 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 led Citadel’s Global Equities unit.

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