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sd-10-EFTA01452569Dept. of Justice

EFTA Document EFTA01452569

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Initiating Coverage of the Alternative Asset Managers; 8X is top pick we initiate coverage of 5 alternative asset managers (the "Alts") with Buys on Blackstone (BX), Carlyle Group (CG), & Oaktree capital (OAK) & Hold ratings on Apollo Global Mgmt (APO) & KKR & CO (KKR). Overall, these Alts are wellpositioned amid favorable cyclical tailwinds & strong secular dynamics, while valuations remain attractive. we favor the more-diversified Alts possessing less earnings variability & good distri

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Dept. of Justice
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sd-10-EFTA01452569
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