this is the thing we've been thinking about. And
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and thus could make sense to pay a little more tax in
2) balance sheet investments and net cash
and 4) future value of carry. In both the
while the traditionals have seen net outflows and
and we expect average Alts growth over the next to years to be 10x that
and is inclusive of performance fees which investors
this equates to 4.3 years duration and for the alterna-
and as a C-corporation it is the closest true
and 3) our capitalized bond yield approach at an
we look at operating earnings both with and without
and 4) future value of performance fees. The
Upgrading APO and ETFC to Overweight (3 Jan 2018)
LM and EV have fiscal years not ending in December
free cash flow = distributable earnings and