Liquidation: Morgan Creek Global Equity Long/Short Institutional Fund

Form Type: N-CSR/A

Filing Date: 2025-06-06

Corporate Action: Liquidation

Type: Update

Accession Number: 000139834425011493

Filing Summary: This document serves as an amended N-CSR filing for Morgan Creek Global Equity Long/Short Institutional Fund to correct omissions from prior filings. The Fund decided to liquidate in early 2022 due to decreased asset size, making its operational costs unjustifiable amid poor performance. Liquidation began after the completion of the 2022 fiscal audit, with distributions made in August 2022 and the most recent one in June 2024, totaling 64.9% of the Fund's NAV as of July 1, 2022. The Fund's remaining portfolio now includes private holdings and cash reserves for operating expenses, with upcoming potential liquidity events. For the fiscal year ending March 31, 2025, the Fund reported a loss of 12.3%, primarily due to high operating expenses, with a reported annualized operating expense ratio of 11.2%. Morgan Creek aims to provide regular updates regarding the Fund's progress in liquidation, with options for shareholders to receive reports either electronically or in paper format.

Form Type: N-8F

Filing Date: 2025-06-05

Corporate Action: Liquidation

Type: New

Accession Number: 000139834425011377

Filing Summary: Morgan Creek Global Equity Long/Short Institutional Fund is applying for deregistration due to liquidation. The fund's board voted to liquidate on June 2, 2025. The declaration of trust allows the fund to liquidate assets without shareholder approval. The fund has distributed assets to shareholders on multiple dates: July 1, 2022, April 1, 2023, and April 1, 2024. At the time of filing, assets retained include $2,143,207 in investments, $1,324,422 in cash, and $1,618 in other assets. The fund acknowledges outstanding debts of $52,438 and intends to cover these with current cash or inflows from asset dispositions. Remaining shareholders will have their interests preserved through a liquidating trust until remaining assets are sold and proceeds distributed. Total expenses incurred for the liquidation process amount to $24,103, and these were borne by the fund itself. The firm stated it is not engaged in any business activities other than winding up its affairs.

Form Type: N-CSR

Filing Date: 2025-06-02

Corporate Action: Liquidation

Type: Update

Accession Number: 000139834425011030

Filing Summary: Morgan Creek Global Equity Long/Short Institutional Fund has been liquidating since early 2022, following a drop in asset size that made ongoing management costs unjustifiable. By June 2024, the fund had returned 64.9% of its net asset value (NAV) to investors. As of the reporting date, the portfolio mainly consists of private holdings and cash to cover expenses, with no predetermined liquidity dates for the private investments. The fund experienced a performance loss of 12.3% for the fiscal year ending March 31, 2025, with high operating expenses contributing to this decline. The fund intends to continue with its liquidation and anticipates making further distributions based on possible liquidity events in its remaining private holdings.