VIDEO: JP Morgan Asset Management's Lawrence Unrein
Lawrence Unrein, Global Head of JP Morgan Asset Management's Private Equity and Hedge Fund Groups, says that the global private equity industry learned a few lessons about its limits in the aftermath of the global financial crisis, and discusses how the event has – and has not – altered the way JP Morgan conducts its due diligence
New York-based Unrein tells AVCJ TV that, in retrospect, the industry's mistakes and successes during the crisis taught it some of its weak points, saying, "We said back in 2007 that the private equity industry itself wasn't really as smart as it thought it was in 2006 and 2007. Yet, many of the mistakes that have since been exposed probably suggest that the industry is not as dumb as it had looked over various points over the last couple of years."
Unrein adds that JP Morgan Asset Management shouldn't be highly impacted by the implementation of the Volcker Rule, and explains precisely why China holds appeal.
Read more of Unrein's thoughts on the private equity industry and the challenges it faces.
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