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Kettera expands Hydra marketplace to equity hedge funds

Thursday, September 14, 2017
Opalesque Industry Update - Kettera Strategies LLC, which owns and operates Hydra, a global macro, FX, and commodity managed account marketplace, today announced the expansion of Hydra with the launch of Hydra Global Hedge offering access to equity-based hedge fund strategies.

"The new Hydra Global Hedge marketplace was built to answer the challenges investors face when trying to incorporate equity hedge fund strategies into their portfolios," said Terri Engelman Rhoads, President of Kettera and an industry veteran who has built and run hedge fund managed account platforms for Guggenheim and others. "Investors will now be able to access equity-based hedge fund strategies through a limited liability vehicle but with the added features of a managed account such as daily transparency and additional liquidity, giving investors the ability to know where their portfolio stands on a daily basis and proactively manage their risk."

Hydra Global Hedge is an expansion of the established Hydra marketplace, which has distinguished itself in the macro/managed futures space by providing investors with daily transparency, intra-month liquidity and notional funding capabilities.

"We are excited to expand the success of Hydra into liquid equity strategies including global equity long/short, with plans to offer other equity-based hedge fund strategies," said Jon Stein, Chief Executive Officer of Kettera.

Kettera's new equity-focused marketplace provides investors the opportunity to participate in various strategies while offering advantages that may not otherwise be available by going directly into an investment manager's fund. These advantages include daily transparency, monthly liquidity, diversification, risk monitoring and control, lower investment minimums, potentially lower fees, governance improvements, and administrative convenience.

Kettera has selected Goldman Sachs & Co. LLC as the initial prime broker and NAV Consulting as the administrator for this new platform. RSM US LLP will serve as the auditor and BMO Harris, NA as the custodian bank to Hydra Global Hedge. Sidley Austin, LLP is the US counsel and Stuart, Walker & Hersant is Cayman counsel. Independent service providers are a key feature of the Hydra marketplace, which is dedicated to due diligence and objective oversight that is free from the conflicts of interests often found in bank and brokerage-owned platforms.

Service providers are independent companies unaffiliated with Kettera. There is no form of legal partnership, agency, affiliation, or similar relationship between these service providers and Kettera.

Hydra is available to US and non-US investors via a master-feeder structure.

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