NOTICES OF PRIVACY POLICY AND PRACTICES
Karya (as defined below) is committed to protecting your privacy and maintaining the confidentiality and security of your nonpublic personal information. This Privacy Policy explains the manner in which Karya collects, utilizes and maintains nonpublic personal information about its Investors (as defined below), as required by certain rules and regulations. "Karya" collectively refers to Karya Managing Member LLC (the "Managing Member"), Karya Capital Management LLC (the "Investment Manager") and each investment program, partnership, limited liability company or fund (each a "Fund" and collectively, the "Funds") for which the Managing Member or Investment Manager serve as general partner, managing member, trading member, portfolio manager or investment manager. As noted above, this Privacy Policy only applies to products and services provided by Karya to individuals (including regarding investments in the Funds) and which are used for personal, family or household purposes (the "Investors").
Collection of Investor Information
Karya collects nonpublic personal information about its Investors and potential investors from the following sources:
- Subscription forms, investor questionnaires, account forms and other information provided by the Investors or their Representatives in writing, in person, by telephone, electronically or by any other means;
- Transactions within each Fund, including account balances, investments, withdrawals/redemptions and fees; or
- Other interactions with Karya (for example, discussions with our staff).
The type of nonpublic personal information that Karya may collect from the foregoing sources includes, but is not limited to, name, address, date of birth, nationality, social security number or tax identification number, employment information, transaction information, financial and/or income information, and investment qualifications and information.
Disclosure of Nonpublic Personal Information
Karya may share nonpublic personal information about its Investors or potential Investors that it collects with affiliates and unaffiliated third parties only as permitted by law.
For example, Karya may share nonpublic personal information with its affiliates without an Investor's consent such as to affiliated entities that provide marketing and/or portfolio management support to the Managing Member, the Investment Manager and/or a Fund. In addition, Karya may share nonpublic personal information that it collects with unaffiliated parties such as financial and non-financial service providers and others in the following situations, among others:
- To comply with federal, state or local laws, rules and other applicable legal requirements;
- To comply with a properly authorized civil, criminal or regulatory investigation or subpoena or summons by federal, state or local authorities;
- In connection with a proposed or actual sale, merger, transfer, or exchange of all or a portion of the business of the Fund in which you are invested;
- To protect against or prevent actual or potential fraud, unauthorized transactions (such as money laundering), claims or other liabilities;
- To service providers of the Fund in which you are invested in connection with the administration and operations of such Fund, which may include brokers, attorneys, accountants, auditors, administrators or other professionals;
- To process or complete transactions requested by an Investor; and
- Upon consent of an Investor to release such information, including authorization to disclose such information to persons acting in a fiduciary or representative capacity on behalf of the Investor.
Karya may also disclose nonpublic personal information that it collects to affiliated and unaffiliated third parties that perform marketing services on its behalf, such as placement agents, for the purpose of calculating any amounts due to such placement agents. In such event, Karya will require the unaffiliated third party not to disclose such nonpublic personal information except to carry out the purposes for which Karya made the disclosure to the unaffiliated third party in the first instance.
Former Customers and Investors
The same Privacy Policy applies to former Investors.
Protection of Investor Information
Karya maintains physical, electronic and procedural safeguards that comply with applicable federal standards to protect customer information. Karya restricts access to the personal and account information of Investors to those employees who need to know that information in the course of their job responsibilities. Karya will destroy, erase or make unreadable data, computer files and documents containing nonpublic personal information prior to disposal.
Karya also maintains and implements a written information security program to protect Investors' personal information. The program identifies risks to the confidentiality and security of records containing personal information, and has procedures for assessing the likelihood and potential damage of such threats. Technical, physical and administrative safeguards are in place for the protection of personal information, and are regularly monitored for effectiveness.
Further Information
Karya reserves the right to change this Privacy Policy at any time. The examples contained within this policy are illustrations and are not intended to be exclusive. This Privacy Policy complies with federal law regarding privacy. You may have additional rights under other applicable foreign or domestic laws that may apply to you. If you have any questions about this Privacy Policy, please call us at (212) 201-1970.
Last Updated: April 1, 2023
KARYA FUND LIMITED - CAYMAN DATA PRIVACY NOTICE
Karya Capital Management LLC (the “Fund”) s a company created under the laws of the Cayman Islands.
The purpose of this document is to provide you with information on the Fund's use of your personal data in accordance with the Cayman Islands Data Protection Act, 2017 (the “Data Protection Legislation”).
If you are an individual investor, this will affect you directly. If you are an institutional investor that provides us with personal data on individuals connected to you for any reason in relation to your investment with us, this will be relevant for those individuals and you should transmit this document to such individuals or otherwise advise them of its content.
Your personal data will be processed by the Fund, and by persons engaged by the Fund. Under the Data Protection Legislation, individuals have rights, and the Fund has obligations, with respect to your personal data. The purpose of this notice is to explain how and why the Fund, and persons engaged by the Fund, will use, store, share and otherwise process your personal data. This notice also sets out the rights of individuals under the Data Protection Legislation, and how they may exercise them.
Your Personal Data
By virtue of making an investment in the Fund (including the initial application and ongoing interactions with the Fund and persons engaged by the Fund) or by virtue of you otherwise providing us with personal information on individuals connected with you as an investor (for example directors, trustees, employees, representatives, shareholders, investors, clients, beneficial owners or agents), you will provide us with certain personal information which constitutes personal data within the meaning of the Data Protection Legislation.
In particular, you will provide us with personal information within the forms and any associated documentation that you complete when subscribing for shares; when you provide it to us or our service providers in correspondence and conversations (including by email); when you make transactions with respect to the Fund; and when you provide remittance instructions.
We may also obtain personal data on you from other publicly accessible directories and sources. These may include websites; bankruptcy registers; tax authorities; governmental agencies and departments, and regulatory authorities, to whom we have regulatory obligations; credit reference agencies; sanctions screening databases; and fraud prevention and detection agencies and organisations, including law enforcement.
This includes information relating to you and/or any individuals connected with you as an investor in the Fund such as: name, residential address, email address, contact details, corporate contact information, signature, nationality, place of birth, date of birth, tax identification, credit history, correspondence records, passport number, bank account details, and source of funds details and details relating to your investment activity.
How the Fund may use your personal data
The Fund, as the data controller, may collect, store and use your personal data for purposes including the following.
The processing is necessary for the performance of a contract, including:
- administering or managing the Fund;
- assessing and processing requests you make;
- sending updates, information and notices or otherwise corresponding with you in connection with your investment in the Fund;
- investigating any complaints, or pursuing or defending any claims, proceedings or disputes;
- providing you with, and informing you about investment products and services;
- managing our risk and operations;
- complying with audit requirements;
- ensuring internal compliance with our policies and procedures;
- protecting the Fund against fraud, breach of confidence or theft of proprietary materials;
- seeking professional advice, including legal advice;
- facilitating business asset transactions involving the Fund or related entities;
- monitoring communications to/from us (where permitted by law); and
- protecting the security and integrity of our IT systems.
We will only process your personal data in pursuance of our legitimate interests where we have considered that the processing is necessary and, on balance, our legitimate interests are not overridden by your legitimate interests, rights or freedoms.
The Fund continues to be a data controller even though it has engaged SS&C Technologies, Inc. (the "Administrator") and other third parties to perform certain activities on the Fund's behalf.
Sharing your personal data
We may share your personal data with our affiliates and delegates, including the Administrator. In certain circumstances we may be legally obliged to share your personal data and other financial information with respect to your interest in the Fund with relevant regulatory authorities such as the Cayman Islands Monetary Authority or the Tax Information Authority. They, in turn, may exchange this information with foreign authorities, including tax authorities and other applicable regulatory authorities.
The Fund's affiliates and delegates may process your personal data on the Fund's behalf, including with our banks, accountants, auditors and lawyers which may be data controllers in their own right. The Fund's services providers, such as the Administrator, are generally processors acting on the instructions of the Fund. Additionally, a service provider may use your personal data where this is necessary for compliance with a legal obligation to which it is directly subject (for example, to comply with applicable law in the area of anti-money laundering, counter terrorist financing and prevention of proliferation financing or where mandated by a court order or regulatory sanction). The service provider, in respect of this specific use of personal data, acts as a data controller.
In exceptional circumstances, we will share your personal data with regulatory, prosecuting and other governmental agencies or departments, and parties to litigation (whether pending or threatened) in any country or territory.
Sending your personal data internationally
Due to the international nature of our business, your personal data may be transferred to jurisdictions that do not offer equivalent protection of personal data as under the Data Protection Legislation. In such cases, we will process personal data or procure that it be processed in accordance with the requirements of the Data Protection Legislation, which may include having appropriate contractual undertakings in legal agreements with service providers who process personal data on our behalf.
Retention and deletion of your personal data
We will keep your personal data for as long as it is required by us. For example, we may require it for our legitimate business purposes, to perform our contractual obligations, or where law or regulation obliges us to. We will generally retain your personal data throughout the lifecycle of the investment you are involved in. Some personal data will be retained after your relationship with us ends. We expect to delete your personal data (at the latest) once there is no longer any legal or regulatory requirement or legitimate business purpose for retaining your personal data.
Automated decision-making
We will not take decisions producing legal effects concerning you, or otherwise significantly affecting you, based solely on automated processing of your personal data, unless we have considered the proposed processing in a particular case and concluded in writing that it meets the applicable requirements under the Data Protection Legislation.
Rights of individuals
If you are an individual, you have certain data protection rights, including the right to:
- be informed about the purposes for which your personal data are processed;
- access your personal data;
- stop direct marketing;
- restrict the processing of your personal data;
- have incomplete or inaccurate personal data corrected;
- ask us to stop processing your personal data;
- be informed of a personal data breach (unless the breach is unlikely to be prejudicial to you);
- complain to the Data Protection Ombudsman; and
- require us to delete your personal data in some limited circumstances.
Contact us
We are committed to processing your personal data lawfully and to respecting your data protection rights. Please contact us if you have any questions about this privacy notice or the personal data we hold about you. Our contact details are: investor.relations@karyacapital.com marking your communication "Data Protection Enquiry".
March 2023