John At The Center

James says the times when investors accepted fund terms without questioning are over. He recalls how, about a year ago, after the peak of the financial crisis, he and his partners sat down at the company’s New York headquarters and agreed that each of them would start calling investors regularly to check in. “We as an industry were lazy,” James says. “We were unresponsive to our investors. That world is gone.”

via Private Equity Finds the Easy Money Gone – BusinessWeek.