There are lots of similarities but also some very key differences.
The main one being that there is no native currency like XRP, so there is no risk of a similar situation to the current fiasco arising.
hyperledger is designed to be far more light weight and flexible than Ripple, meaning that instead of just being a conduit to trade other assets, hyperledger allows organisations to also issue their own assets, which they have complete control over.
We also have a different notion of pools. Anyone can create their own consensus pool with its own membership requirement rules or features, such as private transaction.
We achieve consensus by a slight different method. More info on this to come, please check the FAQ: http://www.hyperledger.com/faqs.html#ripple
Currently we are a small team of two, myself on the business/marketing side (we will be building commercial products on top of the open project, just as any user could) and feichtinger who is the main technical side. A bit more info on the contact page. Happy to answer any specifics here.