EFTA01452599.pdf

28 January 2014 Brokers. Asset Managers & Exchanges Alternative Assot Manager Initiation [Figure 44: BX Credit Segment Income Statement Forecasts INCOME STATEMENT 2012 1013 2013 3013 8013E 2013E 1018E 2018E 301E 8018E 201E 2016E 201 Rano Minecoteort 6.04601Y R144. Nei Bess IMnossriml Fen 343 914 1019 1019 1037 3989 1660 1066 1113 1141 4400 4678 479 2 6.0Aomy Fees 00 00 00 00 00 00 0.0 1.0 20 3.0 6.0 30 30 liansacton Fe par Fees.MI 409 44 90 71 90 29 9.0 90 90 9.0 360 490 368 0150101101Fn Offsets .50 .16 -IS .26 -18 .75 -18 .16 .is .11 -72 -98 -78 Total IMmeemeni sod ndottcry Fees NS 3511 942 1094 1064 1109 4208 113 2 1168 1206 124 3 018 5100 513 2 PcMcnrorco Fan' Roalial Gond tent 525 855 369 37 364 161 4 80.0 800 SOO BOO 3200 174 5 218 2 Rwitzia Downes Fen 1924 79 299 222 1140 1740 16.2 379 197 153.6 2294 1136 2167 tive017400rnsi lams! 1820 -188 138 309 202 512 -39.6 -429 -469 -502 .1795 -649 .999 llrealtrM licenty0F446 .382 499 156 93 -380 368 72.8 Wei 788 -512 157.2 1704 542 7401Polcmunco Fen 3687 124 5 963 711 1326 4235 131.5 1318 131 5 132.2 5270 3936 3892 woacen11xdre (loss) Amite! 156 3.3 0.9 05 59 108 IA 14 1.1 1.3 56 4.5 97 uireineite 46 1.1 44 •10 20 64 36 42 46 53 17.7 180 746 Total rivestired ImamDoss} 204 44 63 -05 78 170 54 66 67 66 33 226 243 Meet Immo 8 Oimeni Rennie 93 45 41 53 56 195 47 48 49 50 195 210 27 Ore -12 18 -1 -04 .04 00 -03 -03 -0 3 -0 3 -1 1 -1I -12 TotalRevenue 771.4 2285 2130 1810 2565 1. Y02 254.5 2547 262.4 207.9 10435 MO MI Evens. ComemeDor Ccomincolon 1621 455 559 533 565 2113 t66 578 597 63.4 375 2f01 2'.66 lierlainni) Fee 03cpenillan Thio/24:1Cornicl 303 473 200 16 145 835 320 320 320 30 1260 898 873 Rolazol hantes fen 1039 38 14.2 107 456 742 7.3 151 79 614 91.8 45 4 66.7 threolzedd Caned Mereol 976 -102 6.1 192 81 232 • 15 e -172 -13.8 -23.1 -71.8 -26.0 i 399 11884111 ticimae Fees 463 236 117 03 .152 335 3.1 227 315 Cii 632 21.7 Teal RrIcenvince faa Oxicxemcfoo 1865 685 520 318 530 2014 52.6 527 528 529 2106 157.8 155.7 Total Ccowsoirm 4 Benoit 3686 1100 1060 861 1096 4127 1032 1106 1123 1163 4433 4176 4123 Oiler Combine Dperses 846 210 230 235 270 943 24.3 231 242 30.3 1018 1039 115 4 74441601m44 041 131.0 131.0 10415 1345 507.0 1334 1336 136.5 148.1 560.1 527.5 527.1 Economic Income 3253 fits fi20 73.3 1190 373.7 121.1 1261 125.1 121.3 4(0.4 4105 420.5 sane CornyRNs — Once* Sr* Deutsche Bank Securities Inc. Pago 47 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0109733 CONFIDENTIAL SDNY_GM_00255917 EFTA01452599