EFTA02586708.pdf

From: Richard Kahn < Sent: Wednesday, August 6, 2014 9:20 PM To: Jeffrey E. Apollo's Black: 2014 looking a lot like 2007 =/strong> • Purchase price multiples in the U.S. are =lose to 2007 levels and in Europe they're higher, says Apollo Global =APO =font color="red">-2.8%) chief Leon Black on the earnings call. =polio, he says, is happy to wait =f prices are too high, and Black reminds the management team has taken =he company through four economic downturns since 1990. As for =avored spots to put money to work, energy is one, with $18 invested in =2 and another $2.28 committed. • Amid ideas of rate hikes, co-founder Josh Harris says most of Apollo's credit assets are in floating-rate securities, and he would thus welcome higher rates. Should rates rise at a quicker pace than anticipated, this would be an even bigger positive for Apollo dealmakers who could swoop in to take advantage of any market dislocations, he =dds. Blue Mountain - Jes =und http://www.bloomberg.com/news/print/20=4-08-06/bluemountain-surge-highlights-alternative-demand.html NYC =iotechs http://online.wsj.com/articles/wanted-biotech-startups-i=-new-york-city-1406603189 </=iv> Richard Kahn HBRK Associates =nc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fax cell 1 EFTA_R1_01767033 EFTA02586708