IEEE754 representation in hexadecimal?
Hexadecimal notation is just a shortcut writing one hexadecimal digit instead of four bits. For example 1A is exactly the same as 00011010. So eight hexadecimal digits give you the same as the binary32 format. 

What you describe may be that someone takes one sign bit, 2 hex digits for the 8 bit exponenent, and 6 hex digits for the 23 bit mantissa. That would be possible but a bit misleading.