Epstein Secrets

manent Representative of Ukraine to the United Nations. Geneva Cesare Mainardi Senior Vice-President and Managing Booz & Company USA Director. North America Samer A. Majali Chief Executive Officer Gulf Air Company Bahrain Tumi Makgabo Executive Director AfricaWorldwide Media South Africa P. Mpho

ed Kingdom First International Resources LLC Al Futtaim Trading Group Nalco Company ARTOC Group for Investment and Development Real World The Blackstone Group Bain & Company Inc. LVMH Moet Hennessy - Louis Vuitton United Way Worldwide MacArthur Foundation Time Magazine Lanco Infratech Ltd Tuna Solar

Executive Director Executive President and Chief Executive Officer Founder and Chairman Professor Group Head. Business Development President, North America, Europe and UK Vice-Chairman and Managing Director Chairman Managing Director and Chief Executive Officer Managing Partner Founder. Managing D

onal Resources LLC Japan Japan Japan USA Al Futtaim Trading Group United Arab Emirates ARTOC Group for Investment Egypt and Development The Blackstone Group United Kingdom Bain & Company Inc. USA LVMH Mottt Hennessy - Louis France Vuitton United Way Worldwide The Wall Street Journal The Financial

EO, Broker Dealer Services, BNY Mellon), Lee Betsill (Chief Risk Officer, CME Group), Michael C. Bodson (President & CEO, DTCC), John Horkan (Head of North America and Global COO, Rates & FX, LCH, LSE Group) and Marcus Denne (Director, Global Clearing, BofA Merrill Lynch). « With the start of the Uncleared Marg

rice objective is better than expected ramp up in MCA business, and sooner than expected hike in rates, faster than expected recovery in oil prices. The Blackstone Group (BX) Our price objective (PO) for Blackstone is $29, which results in a target price-to-ENI (P/ENI or P/E} multiple of 12x our 2017 ENI estimate. Our pr

rd Largest Hotel |} 4th Largest Hotel The Largest Hotel 4752 Rooms } 4408 Rooms 4,008 Rooms _——a a Located atjacent to 4 of the 5 largest hotels in North America rectfrontage = T50' afb; a ~ TEs. a = HOUSE_OVERSIGHT_018746 --- PAGE BREAK --- Executive Summary The Offering , Cushman & Wakefield, Inc.,

ming devices and 1,979 table games. COMPETITIVE SUMMARY CASINO OWNER SLS Las Vegas The Cosmopolitan of Las Vegas Bally’s Casino Resort Stockbridge Blackstone Group Caesars Entertainment Bellagio MGM Resorts International Caesars Palace Caesars Entertainment Aria MGM Resorts International Excalibur MGM Resorts

Morgan Stanley | researcs NORTH AMERICA INSIGHT 2 January 30, 2018 05:01 AM GMT Alternative Asset Managers Can Alts Unlock Value with C-Corp Conversions ° We think APO could unlock the

(2.1) 176.0 9,804 Median (Excl. HLNE, JHG, WETF) (3.6) Apollo Global Mgmt APO Ow $36.42 $42 403 14.7 242 Ares Mgmt. ARES EW $24.70 $20 216 5.3 106 3 Blackstone Group BX OW $40 1,199 387 a Carlyle Group CG OW $33 343 174 s KKR & Co KKR EW $24 848 153 Oaktree Capital Group (2) OAK ow $45.20 $60 156 100 Mean (Covered