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and Millennium USA has been structured, among other reasons, to give U.S. taxpayers an opportunity to invest in the Master Partnership indirectly. Capital Structure Millennium USA and Millennium International and other existing feeder funds have, and feeder funds that may be formed in the future may have, a var
ed in an investment in a Feeder Fund. Prospective investors should read Part One and Part Two of this Confidential Memorandum in their entirety and the Partnership Agreement of the Fund, as well as the organizational documents of the Feeder Fund in which they intend to invest and consult with their own advisers before deciding whet
ct or indirect subsidiaries that may trade in their own names and are generally consolidated into the financial reports of the Master Partnership. Capital Structure The equity ownership of the Master Partnership is divided into general partner interests and limited partner interests. The interests differ in the
d in an investment in a Feeder Fund. Prospective investors should read Part One and Part Two of this Confidential Memorandum in their entirety and the Partnership Agreement of the Fund, as well as the organizational documents of the Feeder Fund in which they intend to invest and consult with their own advisers before deciding whet
ct or indirect subsidiaries that may trade in their own names and are generally consolidated into the financial reports of the Master Partnership. Capital Structure The equity ownership of the Master Partnership is divided into general partner interests and limited partner interests. The interests differ in the
d in an investment in a Feeder Fund. Prospective investors should read Part One and Part Two of this Confidential Memorandum in their entirety and the Partnership Agreement of the Fund, as well as the organizational documents of the Feeder Fund in which they intend to invest and consult with their own advisers before deciding whet
Entities connected to both Capital Structure and the Partnership Agreement of the Fund

Millennium
ORGANIZATIONMaster-Feeder Relationship
ORGANIZATIONthe U.S. Investment Company Act
ORGANIZATIONThe Master Partnership's Organization
ORGANIZATIONErnst & Young LLP
ORGANIZATION
U.S. Treasury
ORGANIZATIONManagement of Millennium USA
ORGANIZATION
New York
LOCATIONMillennium Partners
ORGANIZATIONKeogh
ORGANIZATIONMillennium USA's
LOCATIONMillennium International, Ltd.
ORGANIZATIONTrigger Event
ORGANIZATIONIndependent Public Accountants
ORGANIZATIONCayman
LOCATION
Ghislaine Maxwell
PERSON
United Kingdom
LOCATION
Wilbur Ross
PERSONAccounting Period
ORGANIZATION
United States
LOCATION