The document discusses the valuation of alternative asset managers, focusing on the potential for P/E multiple expansion relative to traditional asset managers. It highlights the importance of distributable earnings (DE) as a metric for valuation, predicting favorable conditions for DE growth through 2014 and 2015. The document includes a table forecasting the ratio of DE to ENI for various asset managers from 2012 to 2016.
doj/DataSet10/EFTA01452584.pdf
{"title":"Alternative Asset Manager Initiation","document_date":"2014-01-28","document_type":"tabular","key_organizations":["Deutsche Bank","Deutsche Bank Securities Inc."],"reference_numbers":["ENI DB-SDNY-0109704","SDNY_GM_00255888","EFTA01452584"]}