i asked roberto quarta what this means for him in terms of navigating his field. o: i think we are to have to get used to uncertainty. uncertainty seems to be the order of the day. in 2016 last year, we were worried about latin america, columbia, the u.s. election. here we are now with what you describe, the trump effect in the u.s. and what's going to happen here in europe. private equity has been very good in the past to be able to adapt to changes. frankly, i think we have to step up to the plate. i think we have to have a degree of caution and thoughtfulness relative to where we should be investing, but the opportunities will be there. but the challenges will be even greater in this sort of environment. jason: you mentioned the trump effect, how much is that bleeding over into europe in terms of dealmaking and exits and all of that? roberto: i think we are more focused on europe. we are more focused with what's happening with brexit. that is just beginning to show the effect. the elections in germany and the elections in france are being watched very carefully.