1. A method of preparing a polycyclic compound containing a ketone functionality comprising:
reacting a mixture comprising a catalyst, a reactant compound and an amount of water greater than or equal to 3 weight percent
based on the weight of the reactant compound; wherein said catalyst comprises nickel and base and said reactant compound comprises
at least two fused rings, A and B wherein ring A is a saturated ring or ring system having 5 to 7 cyclic carbons and substituted
with a hydroxyl functionality and ring B is a non-aromatic unsaturated ring having 5 to 6 cyclic carbons; and
converting the hydroxyl functionality of ring A to a ketone functionality and the non-aromatic unsaturated ring B to a saturated
ring.
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