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  "documentTitle": "Barclays | Investment Banking Pitch Book | 40 slides",
  "authorId": "barclays",
  "authorName": "Barclays",
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  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2019-07-01 00:00:00",
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  "pageNumber": 39,
  "pageCount": 40,
  "prevPage": 38,
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  "slideType": "financial_analysis",
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  "density": "balanced",
  "nDataPoints": 12,
  "notes": "Includes specific assumptions like Duff & Phelps market risk premium and peer average beta calculations.",
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  "slideHref": "/slides/019de06f-d581-7780-94e9-df7e46f9c501/39",
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      "kind": "disclaimer",
      "text": "1. Calculated as annualized Q1 interest expense / Q1 average debt. 2. WACC inputs updated utilizing market data as of July 1, 2019.",
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      "text": "Barclays calculated MDLY's Weighted Average Cost of Capital (\"WACC\") using the Capital Asset Pricing Model (\"CAPM\"). Peer Comparables used to determine a peer average beta: APAM, BSIG, CNS, FII, MN, PZN, VCTR, VRTS and WDR. Debt / Capitalization ratio is based on net debt and implied equity market capitalization, assuming LLC units are valued equally to Class A shares.",
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      "text": "WACC Analysis: Capital Asset Pricing Model (CAPM) table with assumptions and values",
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      "text": "WACC Calculation: MDLY",
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