Epstein Secrets

ntended for long-term investors who can accept the significant risks associated with investing in illiquid assets. Accordingly, an investment in the AlphaKeys Fund should only be considered by persons who can afford a loss of their entire investment and Members should maintain sufficient liquid assets to

y this Memorandum, other than as set forth herein, and any such statements, if made, may not be relied upon. The AlphaKeys Fund is member-managed. UBS Fund Advisor, L.L.C., a Delaware limited liability company (the "Administrator") has been appointed as Administrator to the AlphaKeys Fund. Further, under the LL

age Intentionally left blank) ER305378-MAXWELL CONFIDENTIAL UBSTERRAMAR00002021 EFTA00237652 Appendix B Limited Liability Company Agreement of AlphaKeys European Real Estate Opportunities Fund II, L.L.C. ER305378-MAXWELL CONFIDENTIAL UBSTERRAMAR00002022 EFTA00237653 ALPHAKEYS EUROPEAN REAL ESTA

easury Department issued pursuant to the Code, as amended from time to time. "UBS" shall mean UBS AG and any of its affiliates. "UBSFA" shall mean UBS Fund Advisor, L.L.C. "UBSFS" shall mean UBS Financial Services Inc. "Unaffiliated Fund Percentages" shall mean a percentage established for each non- Affiliated

aKeys Funds UBS Funds Disclosure Statement under Rule 506(d) This brochure provides information about certain disciplinary matters relating to the AlphaKeys Funds and the UBS Funds (collectively, the Funds), our parent company UBS AG, UBS Fund Advisor LLC (the Funds' Member Designee, Managing Member or

CLAUSES SET FORTH IN SECTION 14.10. WITNESS WHEREOF, the undersigned have duly executed this Agreement as of the day and year first above written. UBS Fund Advisor, L.L.C., as Member Designee By: Name: Title: Authorized Signatory By: Name: Title: Authorized Signatory Initial Member (solely to reflect resi