Major pension schemes back Hermes PE co-investment fund

first_imgThe UK’s Local Pensions Partnership (LPP) has joined major pension funds from North America and Australia in committing assets to private equity investor Hermes GPE’s co-investment platform.The Hermes GPE PEC III Co-Investment Fund LP (PEC III) raised total commitments of $389m (€330m) from a group of investors that includes, besides LPP, the State Teachers’ Retirement System of Ohio, Canada Pension Plan Investment Board, and Australian superannuation fund Hostplus.Private equity firm Ardian and a number of other UK and continental European investors are also involved.Including “sidecar” and segregated co-investment mandates, Hermes GPE has raised around $620m in total for the co-investment platform. The latter mandates come from longstanding Hermes GPE clients and will either invest alongside PEC III, or in separate co-investment and alternative strategies. PEC III has already committed $200m to 30 investments. The fund follows a thematic investment strategy, seeking to identify companies in niche markets or geographies where growth potential does not hinge on the wider macroeconomic cycle.Investors in the fund will contribute deal flow from their own private equity relationships alongside opportunities sourced from Hermes GPE’s network of general partner relationships.Hermes GPE is part of Hermes Investment Management – the asset manager wholly owned by the BT Pension Scheme – and currently manages around $5bn of private equity assets. LPP is a £12.8bn (€14.3bn) collaboration between the London Pensions Fund Authority and Lancashire County Pension Fund. The Royal County of Berkshire Pension Fund provisionally agreed to join LPP but has yet to invest significantly in the pooled funds the partnership has launched so far.last_img read more

Football News Robert Lewandowski scores brace, Bayern Munich held to 2-2 draw by Hertha Berlin

first_img Munich: A brace for Robert Lewandowski was not enough to save Bayern Munich from making a spluttering start to the new Bundesliga season as the reigning German champions were held to a 2-2 draw at home to Hertha Berlin. Lewandowski insisted that visitors Hertha had been “lucky” after he saved a point for Bayern with a second-half penalty on Friday. Hertha, who finished 11th last season, cancelled out Lewandowski’s opener with two unusual goals to take a surprise lead in the first half and ultimately deal an early blow to Bayern’s title defence.  “We didn’t play badly, and they barely had a shot. They were lucky,” Lewandowski told ZDF. “It wasn’t a false start to the season. We were the better team and should have won,” said coach Niko Kovac.  Despite winning the domestic double last season, Bayern opened the season under pressure after a 2-0 defeat to Borussia Dortmund in the German Supercup two weeks ago. Questions over Kovac’s tactics and relentless criticism of the club’s transfer policy had also unsettled Bayern in the build-up, but they looked sharp early on as Joshua Kimmich and Serge Gnabry probed and prodded on the right wing.  The duo finally broke Hertha on 24 minutes, as Kimmich set up Gnabry to send a fizzing cross towards Lewandowski, who prodded home at full stretch from close range. With Bayern completely in control, Hertha struck twice in quick succession to turn the game on its head. The equaliser arrived with a dollop of good fortune on 36 minutes, as a hopeful long-range effort from Dodi Lukebakio deflected off Vedad Ibisevic and wrong-footed goalkeeper Manuel Neuer.  Three minutes later, Hertha took the lead in curious fashion after Marko Grujic clashed heads with new Bayern signing Benjamin Pavard. While Pavard pulled up holding his head, Grujic managed to chase down the loose ball and round Neuer before himself collapsing to the turf. Both players were quickly back on their feet, and Grujic was in the spotlight again when he pulled down Lewandowski off the ball on the hour mark.  The resulting penalty, given by VAR, was coolly converted by the Polish striker to bring Bayern back on level terms. Lewandowski, Gnabry and Corentin Tolisso all came close as Bayern pushed for the winner late on, but Hertha held on to take a well-earned point back to the capital city.  Bayern fans will at least have one new face to cheer on after the club announced they had reached “agreement in principle” to sign Philippe Coutinho on loan from Barcelona. Bayern Munich lost to Borussia Dortmund in the German Super Cup.Benjamin Pavard, part of France’s 2018 World Cup winning squad, is new signing for Bayern Munich.Robert Lewandowski scored two goals for Bayern Munich. For all the Latest Sports News News, Football News News, Download News Nation Android and iOS Mobile Apps.center_img highlightslast_img read more

New mobility hub at USC Village aims to help students beat LA traffic

first_imgPhoto courtesy of Evan SaundersWith limited parking spaces, unreliable Uber drivers, and confusing public transit schedules, transportation around USC and the greater Los Angeles area is often a difficult task. The URB-E Mobility Hub, set to open in the USC Village this summer, aims to provide students and faculty with the information and tools to help make their commutes and travel times a little easier.   Evan Saunders, URB-E’s head of sales and marketing, hoped that the mobility hub would transform the way USC students think about transportation and equip them with the necessary information to get the most out of their own commutes. “We’ve been working with USC for about 15, 16 months now on the planning and execution,” Saunders said. “The mobility hub is all about providing visitors with transportation options that really help them efficiently commute, both in and around and outside of the USC campus. We understand that people have commutes of all shapes and sizes. The mobility hub is a resource, an innovation center, to help empower students and faculty with transportation options that help save time and money.” According to Saunders, URB-E is the first and only manufacturer of light, foldable electric vehicles, and is a more efficient and compact alternative to a bicycle. URB-E’s CEO and cofounder, Peter Lee, graduated with a master’s from the Marshall School of Business. When offered the opportunity to set up a space in the USC Village, Lee jumped at the chance to work in conjunction with his alma mater. “The school came to us because URB-E is an expert in urban mobility: getting around places and relieving congestion,” Lee said. “USC came to us and asked if they could create a partnership to develop a mobility hub that would allow students and faculty to get around the University and the city more efficiently.”But the mobility hub won’t solely be dedicated to showcasing the URB-E vehicles. The sleek, high-tech space will employ TVs and tablets that will allow visitors to learn more about people’s individual commutes as well as gather information for reducing their own commute time. URB-E also plans to employ USC students to assist with potential customers. “The vision was to create a warm and exciting space,” Saunders said. “We have a very forward thinking space. We’ll showcase transportation around campus via videos, photos, big monitors, iPads Pros that are interactive, that you can take off the wall. We’ll have URB-Es there that people can test ride and purchase.” Sophia Greenberg, a junior majoring in economics, is an intern for URB-E. When tasked with doing research on all the different transportation options that the University has to offer, Greenberg was surprised to find just how numerous they were.  “I was in charge of looking up everything USC has to offer, and I was surprised to learn so many things that I didn’t know,” Greenberg said. “For example, that there’s an Enterprise Rent-a-Car on campus, and they’ll waive your minor status as a renter on campus. They’ll waive that fee, and I wish more people knew that.” Greenberg hoped that the URB-E mobility hub would become a valuable resource for the student body. She believed that arming students with such information would push them to explore beyond campus and more easily take advantage of everything Los Angeles has to offer. “I really hope that students will be able to take advantage of it,” Greenberg said. “I’m so happy that it’s in the [USC] Village, right in the middle of everything. I think it will serve as a good starting point for people who are interested in what L.A. is all about.”last_img read more

Rising Pune Supergiants unveil jersey

first_imgMumbai, Apr 7 (PTI) The jersey of new Indian Premier League team Rising Pune Supergiants was unveiled here today in the presence of India limited overs and Supergiants skipper Mahendra Singh Dhoni and national team-mate Ajinkaya Rahane. “A lot of areas have been covered, so from RPS side we would like to welcome Gulf Oil Lubricants India Limited, we are proud of being part of the Hinduja family. They have been supporting us for a long time and its not only us they have been part of sports when it comes to motorsports,” Dhoni said on the occasion. “Now they are also a part of one of the best football teams Manchester United, so thanks for choosing us. I know after CSK, they have lot of options but thanks for showing the confidence and in turn its our responsibility to reflect the kind of confidence you have shown in our team,” Dhoni said. “Lets move on ahead and make India proud and at the same time do well for our franchise,” he added. Echoing similar views, Ajinkya Rahane said he was happy that Gulf were their sponsors. “I am sure we will do well in this season and make the whole country proud,” he said. Gulf Oil Lubricants India Limited, a Hinduja group company, is the principal sponsor of RPS. The assembled media were not allowed to ask any question. PTI NRB SSR PDS PDSlast_img read more

Eddie Howe relieved with Cup win

first_imgBournemouth boss Eddie Howe confirmed he was relieved to see his team progress to the next round after holding on to a narrow 2-1 win against Norwich.The Cherries sealed a spot in the quarter-finals of the Carabao Cup thanks to goals from Junior Stanislas and Steve Cook.Norwich twice hit the post at Vitality Stadium and substitute Jordan Rhodes missed a gilt-edged opportunity when he headed wide from six yards in the dying minutes.Howe told Bournemouthecho: “It was a tough night for us, I thought Norwich played very well. Full credit to them. We had watched them a lot and knew it was going to be a difficult game.“They are a really improving team and one which will, on that evidence, take some stopping in the Championship.“I thought they performed well and we were below par and that made it a really difficult game for us.“We rode our luck but we got through and will certainly take that.“It’s very difficult for me to say for sure (why the performance was below par). I need to speak to the players who played and gather their thoughts as well.Eddie Howe pleased with attacking poise, but feels Wilson was too honest Stuart Heath – August 25, 2019 A.F.C Bournemouth manager Eddie Howe felt as though his striker Callum Wilson was too honest against Manchester City and may have won a penalty,…“We looked disjointed. Maybe the changes, maybe a couple of players who came in hadn’t had enough games behind the scenes.“But we lacked a sharpness and a fluency which is usually there.“Overall, it was a disappointing performance but I suppose there must have been good elements for us to withstand the pressure and find a way to win.“Norwich had some presentable chances which they didn’t take. Artur (Boruc) made some good saves, which was important for us.“It won’t be a game I will want to dwell on too much. I think it’s important we focus on the next challenge, which is a big one in Manchester United.“We’re pleased to get through and it’s great to be in the next round but the performance is one we won’t want to remember for too long.“That we won is the only positive I can find, really. Artur Boruc performed well in goal and Marc Pugh was his usual consistent self and gave everything to the game but there weren’t too many other positives.“We’ve made this step, now we want to try to go one more and the motivation is huge. The semi-final is a different level.”last_img read more