London-based Carmika Partners is to offer its alpha generating equity tail-risk strategy to investors through Kettera Strategies’ Hydra, a managed account marketplace for macro, commodities and liquid equity hedge fund strategies.
Carmika was founded in 2015, by two industry veterans, Manjeet Mudan and Martin Vestergaard, who met when working at Goldman Sachs. Kettera’s Hydra will offer Carmika’s Alpha Hedge Strategy, which is focused on isolating anomalies across equity option volatility markets globally, while limiting risk through an asymmetrical hedge with positive convexity to the up- and down-side and maintaining the ability to benefit from an improvement in markets.
“We are excited about our relationship with Kettera and their Hydra marketplace. We believe our global arbitrage trading strategy is well-suited for growth,” says Martin Vestergaard, Partner & Portfolio Manager.
“We are delighted to welcome Carmika to the Hydra Global Hedge Strategies marketplace,” says Terri Engelman Rhoads (pictured), Kettera’s President.
Hydra’s “Global Hedge Strategies” arm is an expansion of the Hydra marketplace, which has already distinguished itself in the macro/managed futures space by providing investors with daily transparency, intra-month liquidity and notional funding capabilities.
Goldman Sachs International serves as prime broker for the Carmika Cell on the Hydra marketplace. RSM provides audit services, BMO is bank custodian, and NAV Consulting, Inc is the cell’s administrator. In contrast to other hedge fund platforms, Hydra’s service providers are independent companies unaffiliated with Kettera or its managers.
Hydra is available to US and non-US investors via a master-feeder structure.
