Diego Megia, a well-known hedge fund manager and former senior money manager at Millennium Management, plans to reopen Taula Capital Management in order to raise an extra $1 billion.

This decision comes after the successful launch of his hedge fund earlier this year, which raised $5 billion, making it one of the largest fund launches in history.

The new fundraising effort is expected to occur between December and March, with a focus on existing investors for the additional capital.

Discussions are currently underway, but the sources providing this information have chosen to remain anonymous due to the confidential nature of the matter.