MORGAN CREEK CAPITAL MANAGEMENT, LLC

Morgan Creek is an advisory firm that provides investment services to clients. The firm's principal owners include Mark W. Yusko, Chief Executive Officer; Michael P. Hennessy, Managing Director; Daniel J. Kingston, Managing Director; Cory Lester, Managing Director; Nic Lee, Managing Director; Darpan Biswas, Partner, Morgan Creek Digital, LLC (“MCD”); Sachin Jaitly, General Partner (MCD); Xavier Segura, General Partner (MCD); Andrew Schmeelk, Senior Advisor; and Frank Tanner, Director. Morgan Creek seeks to allocate investment ideas fairly and equitably across its advisory clients. The firm periodically reviews client accounts and financial plans, with Mark W. Yusko and a team of investment professionals responsible for selecting investments on behalf of the Advisory Clients.

The investment strategies employed by the Adviser are generally based on factors considered relevant to investors who are investing based on a long-term time horizon, a period generally exceeding 3-5 years, but the period may vary. Certain strategies may utilize margin or leverage in achieving their investment objectives, such as absolute return. The asset allocation strategy, and any considerations for margin or leverage, may vary from Advisory Client to Advisory Client because of individual considerations including differences in the risk appetite of each Advisory Client (i.e., acceptable level of volatility), the liquidity needs of each Advisory Client, other investments owned by the Advisory Client, and other factors.

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