  We study rotating black holes in five dimensions using the nAdS$_2$/nCFT$_1$
correspondence. A consistent truncation of pure Einstein gravity (with a
cosmological constant) in five dimensions to two dimensions gives a
generalization of the Jackiw-Teitelboim theory that has two scalar fields: a
dilaton and a squashing parameter that breaks spherical symmetry. The interplay
between these two scalar fields is non trivial and leads to interesting new
features. We study the holographic description of this theory and apply the
results to the thermodynamics of the rotating black hole from a two dimensional
point of view. This setup challenges notions of universality that have been
advanced based on simpler models: we find that the mass gap of Kerr-AdS$_5$
corresponds to an undetermined effective coupling in the nAdS$_2$/nCFT$_1$
theory which depends on ultraviolet data.
