RALEIGH, N.C.--(BUSINESS WIRE)--Hatteras Funds, a provider of unique alternative investment solutions for Financial Advisors and their clients, announced today that it has signed a letter of intent to repurchase itself from RCS Capital Corporation (NYSE:RCAP) (“RCP Capital”) and re-establish itself as an employee-owned alternative investment boutique.
Acquired by RCS Capital on June 30, 2014, Hatteras Funds has continued to operate as an independent reporting segment over the past 16 months. Repurchasing the Firm allows Hatteras to focus on providing innovative alternative investment solutions across the liquidity spectrum.
“We are excited to reestablish Hatteras as a 100 percent employee-owned firm. We will continue to focus on providing alternative investment solutions designed to help Financial Advisors build better, more diversified portfolios for their clients,” said David Perkins, Chief Executive Officer. “We believe we are well-positioned to execute on our business plan because of our strong asset base and deep relationships with Financial Advisors.”
There will be no changes to Hatteras Funds’ leadership and portfolio management teams as a result of the transaction. Business operations and processes will not be impacted by the transaction. The transaction is subject to the approval of the Funds' boards and shareholders under the Investment Company Act of 1940 as well as to certain regulatory approvals and filings and other customary closing conditions. The transaction is expected to close in early 2016.
About Hatteras Funds
Hatteras Funds provides unique alternative investment solutions for Financial Advisors and their Clients. We believe that all investors should have access to the same sophisticated investment approach and superior portfolio management talent as the largest institutions. A boutique alternative investment specialist founded in 2003, Hatteras Funds offers a suite of innovative products designed to help allocate to alternative investments. For more information, please visit hatterasfunds.com.
Investors should consider the Funds’ investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other important information about the Funds and may be obtained by clicking here or calling 866.388.6292. Read it carefully before investing.
Key Risk Factors:
Investing involves risk; loss of principal is possible. Please consult an investment professional for advice regarding your particular circumstances. An investment in the Funds may not be suitable for all investors.
Securities offered through Hatteras Capital Distributors, LLC, member of FINRA / SIPC, 6601 Six Forks Road Suite 340, Raleigh, NC 27615. Hatteras Capital Distributors, LLC is affiliated with Hatteras Funds, LLC by virtue of common control/ownership.