Epstein Secrets

From: Richard Kahn To: "Jeffrey E." <[email protected]> Subject: Fwd: Apollo Global Management LLC: Outlook Improving as Fund VIII Enters Carry Date: Wed, 03 Aug 2016 18:07:42 +0000 Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Flo

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From: Richard Kahn To: "jeffrey E." <[email protected]> Subject: Fwd: Apollo Global Management LLC: Model APO Refresh Date: Thu, 04 Aug 2016 13:34:56 +0000 Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel

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From: Richard Kahn < Sent: Thursday, September 27, 2018 1:26 PM To: Jeffrey Epstein Subject: Fwd: Apollo Global Management LLC: Management Meeting Takeaways Richard Kahn HBRK Associates Inc. 575 =exington Avenue 4th Floor New York, NY 10022 tel fan cel Begin forwarded

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From: Richard Kahn < Ila Sent: Thursday, August 2, 2018 5:00 PM To: jeffrey E. Subject: Fwd: Apollo Global Management LLC: Softer 2Q Results But Strong Forward Look; Reiterate Overweight Richard Kahn HBRK Associates Inc. 575 =exington Avenue 4th Floor New York, NY 1

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From: Richard Kahn <[email protected]> Sent: Monday, May 21, 2018 12:43 PM To: jeffrey E. Subject: Fwd: Apollo Global Management LLC: Three Reasons to Own Apollo Richard Kahn HBRK Associates Inc. 575 =exington Avenue 4th Floor New York, NY 10022 tel 212-971-1306 fax 212-320-0

t The =opyright in materials provided by Morgan Stanley is owned by Morgan =tanley & Co. LLC. Morgan Stanley Wealth Management is the trade =ame of Morgan Stanley Smith Barney LLC, a registered broker-dealer in =he United States. @ 2018 Morgan Stanley Smith Barney LLC. Member =lPC. <http://www.morganstanley.com/img/cs/spacer.

$12.33 $14 13.5 137 17 46 Mean (Excl. HLNE, JHG, WETF), (Market Cap, EV and AuM equals Total) (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 K

s NORTH AMERICA INSIGHT ~~ relevant MSCI country index or MSCI sub-regional index or MSCI AC Asia Pacific ex Japan Index. Important Disclosures for Morgan Stanley Smith Barney LLC Customers Important disclosures regarding the relationship between the companies that are the subject of Morgan Stanley Research and Morgan Stanley

ERSIGHT_025586 --- PAGE BREAK --- Morgan Stanley | RESEARCH INDUSTRY COVERAGE: Brokers & Asset Managers COMPANY (TICKER) Michael J. Cyprys, CFA, CPA Apollo Global Management LLC (APO.N) Ares Management, L.P. (ARES.N) BlackRock Inc. (BLK.N) Charles Schwab Corp (SCHW.N) E*Trade Financial Corp (ETFC.O) Franklin Resources Inc. (