The document discusses the valuation of alternative asset managers and predicts multiple expansion. It highlights five key themes for the stock outcomes over the next 12 months, focusing on how alternative asset managers should be valued, particularly on distributable earnings (DE) versus economic net income (ENI). The document suggests a shift in investor approach towards valuing these companies on a longer-term basis, consistent with their investing mandates.
doj/DataSet10/EFTA01452622.pdf
{"title":"Alternative Asset Manager Initiation","document_date":"2014-01-28","document_type":"tabular","key_organizations":["Deutsche Bank Securities Inc."],"reference_numbers":["DB-SDNY-0109771","SDNY_GM_00255955","EFTA01452622"]}