So says Mary Callahan Erdoes, Chief Executive of JP Morgan Asset Management, who’s looking to beef up her firm’s private equity division in 2010. In a statement published by Financial News, she’s quoted as saying “This is the best opportunity in private equity for 25 years. We are interested in hiring teams for specific opportunities as well as on a broader level.”
JP Morgan has just raised $900 m for Asian infrastructure fund, and has launched a maritime fund to buy cargo ships inexpensively and rent out capacity to reap double-digit yields. Right now, the firm is reportedly augmenting its in-house expertise with help from Apollo and KKR.
JP Morgan lost nearly $1.8 billion in private equity from mid-2008 to mid-2009, according to Financial News. But the firm has been increasingly active in the past few quarters. JP Morgan’s private equity arm, One Equity Partners, is also in talks to acquire CKX, the company that owned the American Idol franchise, according to reports by the Wall Street Journal.
Do you think private equity job hiring will see an uptick in 2010? Let us know your thoughts below.
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