The document is an investment thesis and outlook for KKR, a leading alternative asset management company. It discusses the firm's market position, valuation, and potential risks and returns over the next 12 months. The document highlights KKR's strong investment performance and fund-raising capabilities but notes potential challenges due to market volatility and the firm's balance sheet strategy. It provides a valuation based on distributable earnings and outlines both downside and upside risks.
doj/DataSet10/EFTA01452606.pdf
{"title":"Alternative Asset Manager Initiation","document_date":"2014-01-28","document_type":"financial","key_organizations":["KKR","Deutsche Bank Securities Inc."],"reference_numbers":["DB-SDNY-0109744","SDNY_GM_00255928","EFTA01452606"]}