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💨IMPACT LEVEL 1 — MEH

Epstein File EFTA01452569: Apollo Global and Asset (DS10)

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Document is an investment research report initiating coverage of five alternative asset managers, including Apollo Global Management (APO), with ratings assigned to each firm. The report discusses valuations, earnings predictability, and business profiles of alternative asset managers including Blackstone, Carlyle Group, Oaktree Capital, and KKR, but contains no information specific to Epstein.

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Excerpt 1
initiate coverage of 5 alternative asset managers (the "Alts") with Buys on Blackstone (BX), Carlyle Group (CG), & Oaktree Capital (OAK) & Hold ratings on **Apollo**
Excerpt 2
**Global** Mgmt (APO) & KKR & Co (KKR). overall, these Alts are wellpositioned amid favorable cyclical tailwinds & strong secular dynamics, while valuations
Excerpt 3
Initiating Coverage of the Alternative **Asset** Managers; BX is top pick We initiate coverage of 5 alternative **asset** managers (the "Alts") with Buys on Blackstone

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