Disclosures

This is not an offering to subscribe for units in any fund and is intended for informational purposes only. An offering can only be made by delivery of the Prospectus to “qualified clients” within the meaning of U.S. securities laws. Please carefully consider the investment objectives, risks, and charges and expenses of the Funds before investing. Please read the Prospectus carefully before investing as it contains important information on the investment objectives, composition, fees, charges and expenses, risks, suitability, and tax obligations of investing in the Funds. Copies of the Prospectus and performance data current to the most recent month-end may be obtained online at by contacting Morgan Creek at 919-933-4004. Past performance does not guarantee future results.

Morgan Creek Global Equity Long/Short Fund (the “Feeder Fund”) was organized under the laws of the State of Delaware as a statutory trust on August 16, 2010 pursuant to an Agreement and Declaration of Trust (the “Trust Deed”). The Feeder Fund has had no operations through September 12, 2011 other than those relating to organizational matters and the sale and issuance of 100 Shares, as defined below, to Morgan Creek Capital Management, LLC. The Feeder Fund is registered under the U.S. Investment Company Act of 1940, as amended (the “1940 Act”), as a closed-end, non-diversified management investment company. The Feeder Fund has no fixed termination date and will continue unless the Fund is otherwise terminated under the terms of the Trust Deed or unless and until required by law.

The Feeder Fund is one of three “Feeder” funds in a “Master-Feeder” structure whereby each Feeder Fund invests substantially all of its assets in Global Equity Long/Short Master Fund (the “Master Fund”). The other two feeder funds are the Morgan Creek Opportunity Offshore Fund, Ltd. and the Morgan Creek Global Equity Long/Short Institutional Fund. The Master Fund is a statutory trust organized under the laws of the State of Delaware and is registered under the 1940 Act as a closed-end, non-diversified, management investment company. The Feeder Fund and the Master Fund are collectively referred to herein as the “Funds”.

The Morgan Creek Global Equity Long/Short Funds are funds of alternative investments. As such, the Funds invest in private hedge funds and private equity investments. Hedge funds are speculative investments and are not suitable for all investors, nor do they represent a complete investment program. A hedge fund can be described generally as a private and unregistered investment pool that accepts investors’ money and employs hedging and arbitrage techniques using long and short positions, leverage and derivatives, and investments in many markets.

Key Risk Factors: The Funds, through an investment in the Master Fund, will invest substantially all of their assets in underlying funds that are generally not registered as investment companies under the 1940 Act and, therefore, the Funds will not have the benefit of various protections provided under the 1940 Act with respect to an investment in those underlying funds. The Funds can be highly volatile, carry substantial fees, and involve complex tax structures. Investments in the Funds involve a high degree of risk, including loss of entire capital. Investments in Portfolio Funds are illiquid, their marketability is restricted and the realization of investments from them may take considerable time and/or be costly, in particular because the underlying hedge funds may have restrictions that allow redemptions only at specific infrequent dates with considerable notice periods and apply lock-ups and/or early withdrawal fees. The shares of the Funds are appropriate only for those investors who do not require a liquid investment. To the extent that an investor requires that a portion of its investment portfolio provide liquidity, such portion should not be invested in a Fund.

The success of the Funds is highly dependent on the financial and managerial expertise of its principals and key personnel of the Funds’ investment managers. Although the investment managers for the Funds expect to receive detailed information from each underlying fund on a regular basis regarding its valuation, investment performance, and strategy, in most cases the investment managers have little or no means of independently verifying this information. The underlying funds are not required to provide transparency with respect to their respective investments. By investing in the underlying funds indirectly through the Funds, investors will be subject to a dual layer of fees, both at the Funds and underlying fund levels. Certain underlying funds will not provide final Schedule K-1s for any fiscal year before April 15th of the following year. Those funds, however, will endeavor to provide estimates of taxable income or losses with respect to their investments.

Special Notice to Non-U.S. Investors: Any Fund referred to on this website is intended to be made available to U.S. taxpayers. This website shall not be considered a solicitation or offering for any investment product or service to any person in any jurisdiction where such solicitation or offer would be unlawful.

Please see the Prospectus for a detailed discussion of the specific risks disclosed here and other important risks and considerations. Securities distributed through Morgan Creek Capital Distributors, LLC, Member FINRA/SIPC. The information on this website is not an offering to subscribe for units of any fund and is intended for informational purposes only.

Meet Morgan Creek and CIO Mark W. Yusko