Epstein Secrets

HUESUS133 Alpha Group Capital Item 13. Review of Accounts Review of Accounts Hudson Bay Capital will review, as pertinent, each Client's portfolio holdings to determine that the investments held by each Client remain consistent with the pertine

y Capital does not currently have any arrangements with third parties whereby such third parties are compensated for client referrals. In the event Hudson Bay Capital enters into compensation arrangements with third party solicitors for new advisory business, any such solicitation arrangements will comply with Ru

main consistent with the pertinent offering documents and will generally review each Client's performance on an ongoing basis. Reports to Clients Multi-Strat, Capital Structure, Corporate Value and MLP Fund investors receive unaudited performance information at least quarterly and audited financial statem

btaining insurance for members, officers and employees of the general partner/boards of directors of the Multi-Strat Funds, any Trading Vehicle and Hudson Bay Capital; fees and expenses (including, without limitation, director registration fees) of the Multi-Strat Funds' directors; costs of annual or special inve

vities, custody, brokerage, clearing, financing and credit agreements, regulatory investigations and/or proceedings attributable or relating to the Multi-Strat Funds or any Trading Vehicle, and regulatory reporting and compliance costs attributable or relating to the Multi-Strat Funds, such as filing fees a

US133 Alpha Group Capital portfolio, as well as the concentration of the portfolio in any particular investment asset, strategy or market. Although Hudson Bay Capital attempts to mitigate risk in the Multi- Strat Funds by hedging at the position, strategy and/or portfolio level, such attempts may not be effective

cessarily indicative of their future results. Leverage Risk The use of leverage is integral to many of the Multi-Strat Funds' strategies, and the Multi-Strat Funds depend on the availability of credit in order to finance its portfolio. The Multi-Strat Funds borrow funds from brokers, banks and other lende

the Multi- Strat Funds based on pricing information gathered. Such valuations will affect the Multi- Strat Management and Incentive Fees received by Hudson Bay Capital and its affiliates. The values of the Multi-Strat Funds' positions are based, to the extent possible, on independent third-party pricing sources, w

l will not bear any liability if a price, reasonably believed by it to be an accurate valuation of a particular direct or indirect investment of the Multi-Strat Funds, is subsequently found to be inaccurate. Hudson Bay Capital must depend on the valuations furnished to it by its Third-Party Ventures. In th