📧 Communication

This is a Morgan Stanley research report executive summary analyzing the potential for Alternative Asset Managers (Alts) like Ares, Apollo, and Blackstone to convert from partnerships to C-corporations following the Tax Cuts and Jobs Act. The document specifically highlights Ares Management (ARES) as a likely first mover and includes a scorecard rating various firms on their likelihood to convert. While the document does not mention Jeffrey Epstein, it bears a 'HOUSE_OVERSIGHT' Bates stamp, suggesting it was part of a document production for a Congressional investigation, possibly related to Apollo Global Management.