EFTA01796477

From: Richard Kahn Sent: Tuesday, December 8, 2015 8:38 PM To: Jeffrey E. Subject: apo BofA throws in the towel on trio of P-E players Dec 8 2015, 09:52 ET I By: Stephen Alpher <httpliseekingalpha.com/author/sa-editor-stephen-alpher> , SA News Editor <http://seekingalpha.com/images/mail_icon.png> With the stock price charts of all three moving sharply down and to the right for several months, Bank of America pulls Buy ratings on Apollo Global (APO <http://seekingalpha.com/symbol/APO> -3%), Blackstone (BX <http://seekingalpha.com/symbol/BX> -2.6%), and Carlyle Group (CG <http://seekingalpha.com/symbol/CG> -1.5%). All are downgraded to Neutral. Not completely giving up on the sector, BofA upgrades <http://seekingalpha.comThews/2970956-ares-management- gains-after-upgrade> the equally beaten-down Ares Management to a Buy. Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fax cel 1 EFTA_R1_00132289 EFTA01796477