French pension reserve fund contributes to €5bn tech investment pledge

first_imgA spokeswoman for ERAFP, France’s €29.6bn additional pension fund for civil servants, said it was also part of the investor group but could not reveal how much it would invest.Investments would be progressively directed towards tech in the context of the relaxation of its investment restrictions. ERAFP was recently granted permission to invest more in unlisted assets and mutual funds.FRR noted that the €500m it is committing is on top of a €2bn allocation to French illiquid assets that was decided several years ago and was now already largely invested.Yves Chevalier, executive director at FRR, told IPE that the €500m would be split equally across the venture capital late stage funds and the funds for investment in global listed tech companies.“These aren’t investments that we’ll be making immediately,” he said. “We’ll give ourselves the time to define a strategy to implement it in 2020 and 2021.” 25 unicorns in France by 2025Macron said the government wanted to see 25 French unicorns created by 2025.According to a report prepared for France’s economy ministry earlier this year, France had the attributes to be a leader of “the fourth industrial revolution” –  defined by the World Economic Forum as a fusion of physical, biological and digital technologies – but a lack of late-stage funding was preventing French technology companies from growing. French venture capital funds were typically smaller than their main foreign rivals, it said.Initial public offerings, meanwhile, were fairly rare in France and when they did take place, did not generally raise enough funds to transform the company in question.The report, written mainly by Philippe Tibi, the former head of Swiss bank UBS, recommended that institutional investors be invited to support venture capital funds focussed on the late-stage segment and based in France. It also recommended encouraging the emergence of global listed tech equity funds and managed by teams primarily based in France.More specifically, according to the report, France needed to attract about €10bn and recruit 50 asset managers in three years’ time. Of this total, some €8bn would have to come from institutional investors, it said.Pour la réussite de notre écosystème numérique, j’ai fixé un objectif clair : pic.twitter.com/r6KCVy5Q83— Emmanuel Macron (@EmmanuelMacron) September 17, 2019 Fonds de reserve pour les retraites (FRR), France’s €32.7bn pension reserve fund, has said it is committing to investing, by 2022, €500m in French late stage/growth funds and in global tech funds managed in France. FRR’s commitment was made in the context of a government drive to promote French start-ups and encourage so-called unicorns (privately held firms valued at more than $1bn [€900m]) to list in Paris.Last month, in connection with “France Digital Day”, Emmanuel Macron announced that French institutional investors had pledged to invest up to €5bn, split across two categories: €2bn for investments in late stage or growth companies – unlisted equities – and €3bn for global tech funds that invest in listed companies and are managed by France-based asset managers.FRR is one of the investors to have publicly disclosed its involvement.last_img read more

Arsenal Hands Solskjaer First League Defeat as Man Utd Boss

first_imgArsenal keeper Bernd Leno also produced two crucial saves to keep out Lukaku, before Pierre-Emerick Aubameyang doubled the hosts’ lead from the penalty spot after Fred’s foul on Alexandre Lacazette.Soon after Arsenal’s second goal, a fan ran on to the pitch and shoved United defender Chris Smalling before being removed by stewards.The Gunners have won seven out of 10 top-flight games in 2019 and are one point behind north London rivals Tottenham, who sit third in the table, with eight games remaining.United, who started the weekend in fourth, drop to fifth in the race for a Champions League spot next season.“Tottenham Hotspur, we’re coming for you” chants filled Emirates Stadium at the final whistle as Arsenal fans celebrated a crucial win.Last weekend, Aubameyang left Wembley dejected after his last-minute penalty was saved by Spurs keeper Hugo Lloris to deny Arsenal victory in the North London derby.Against United, he stepped forward and beat De Gea from the spot to seal a first victory over United in six league and cup meetings.It was awarded after Fred’s forearm nudged into Lacazette, sending the French forward tumbling inside the box.Lacazette inspired one of Arsenal’s finest days under Unai Emery’s command.The Gunners were sharp, lively and industrious as they made amends after United eliminated them from the FA Cup six weeks ago.Emery named six players who started Thursday’s Europa League defeat by Rennes in his starting line-up, but there was little sign of fatigue as the hosts came flying out of traps.They opened the scoring with their only shot on target in the first half, Xhaka deceiving De Gea with a shot that left the United keeper rooted to his line.Leno was also key for Gunners.The German did well to frustrate Lukaku as the Belgium forward threatened to go around and equalise, before denying the same player with an outstretched leg after half-time.Arsenal have now played all their Champions League chasing rivals – a place in Europe’s most prestigious competition next season is very much in their own hands.United have got used to winning under Solskjaer and it will be interesting to see how they respond to a first domestic setback under the Norwegian.After their incredible midweek exploits against Paris St-Germain, they started slowly – although Lukaku will wonder how he did not score from United’s first serious attack.The visitors paid the price when they conceded their earliest league goal under Solskjaer and, despite creating chances, were not clinical enough in the final third.Paul Pogba was disappointing on his return to the side but he was by no means United’s only player who struggled to reach their recent heights.This was only United’s second defeat in 18 league and cup games under Solskjaer.A place in the top four remains in their sight, although they will need to produce an immediate reaction when they return to league action after the international break.Arsenal will attempt to overturn a 3-1 deficit when they entertain Ligue 1 side Rennes in the Europa League last-16 on Thursday while United are in FA Cup quarter-final action next Saturday at Wolves .Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Ole Gunnar Solskjaer suffered his first Premier League defeat since being appointed Manchester United’s interim manager as Arsenal leapfrogged their opponents to move into the top four.Switzerland midfielder Granit Xhaka beat David de Gea with a swerving shot from outside the penalty area, which the United keeper was expected to stop.Romelu Lukaku hit the bar while the game was goalless, when it appeared easier to score, and Brazilian midfielder Fred struck a post for United.last_img read more

Sportradar white paper highlights importance of betting data in boosting engagement

first_img David Lampitt, Sportradar: F1 presents betting’s most sizeable opportunity August 14, 2020 Sportradar combats social media abuse with player protection solution August 17, 2020 Share Related Articles Björn Nilsson: How Triggy is delivering digestible data through pre-set triggers August 28, 2020 Share Submit StumbleUpon Major industry supplier Sportradar has released its second OTT white paper, ‘The Future of the OTT Experience’ which offers insight into how data can be used to boost engagement.The inclusion of betting content and advanced insights, according to the white paper, can also facilitate a growth in engagement with modern audiences and keep them on platforms longer.The report looks into the ways that data rights holders and content owners can maximise sports data and statistical insights to heighten engagement.Felix Blank, Director of Digital Platforms at Sportradar, commented: “Following the positive feedback we received around our first white paper – The Monetisation of OTT and Data – we are pleased to be able to continue sharing both our and our clients’ knowledge with rights holders and content owners.“In a splintered and competitive media landscape, publishers need to ensure their video strategy is as engaging and user-focused as it can be. By using data not only to keep viewers engaged but also properly monetise the overall strategy, rights holders can fully leverage their digital ecosystem.”The paper highlighted the increasing importance of data when it comes to rights holders increasing engagement and monetising their offering.The white paper also offers insights into the growth and engagement of OTT services and emphasised that data is key to the personalisation of content and the overall monetisation strategy for rights holders, content owners and sports teams.last_img read more

James has 58th career triple-double; Cavs rally past 76ers

first_imgDragic, Johnson help Heat beat Nets in Mexico City Margot Robbie talks about filming ‘Bombshell’s’ disturbing sexual harassment scene Covington and J.J. Redick scored 19 points each for Philadelphia.Both starting centers missed the game. Joel Embiid sat out for Philadelphia because he hasn’t been cleared to play on back-to-back nights and Kevin Love didn’t play because of a sore left hip.Cleveland led throughout the third quarter but Redick scored eight straight points early in the fourth, for an 86-81 lead.Cleveland cut the lead to one, but Philadelphia regained its five-point advantage before the Cavaliers took over.Wade, Korver and Crowder each scored 13 points for Cleveland. Simmons had 14 points, 6 rebounds and 10 assists for the Sixers.ADVERTISEMENT It’s too early to present Duterte’s ‘legacy’ – Lacson Sports Related Videospowered by AdSparcRead Next Steam emission over Taal’s main crater ‘steady’ for past 24 hours Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Jake says relationship with Shaina ‘goes beyond physical attraction’ Don’t miss out on the latest news and information. Kiss-and-tell matinee idol’s conquests: True stories or tall tales? Cleveland Cavaliers’ LeBron James, center, shoots between Philadelphia 76ers’ JJ Redick, left and Ben Simmons during the second half of an NBA basketball game Saturday, Dec. 9, 2017, in Cleveland. The Cavaliers won 105-98. (AP Photo/Tony Dejak)CLEVELAND — LeBron James had his 58th career triple-double and the Cleveland Cavaliers rallied in the fourth quarter to beat the Philadelphia 76ers 105-98 on Saturday night.James had 30 points, 13 rebounds and 13 assists to help the Cavaliers bounce back from a loss in Indiana on Friday night that ended their 13-game winning streak.ADVERTISEMENTcenter_img LATEST STORIES Sixers forward Robert Covington fell into Cleveland’s bench trying to save a loose ball with just over a minute to play. He was down for a couple of minutes before being helped to his feet and to the locker room.Rookie Ben Simmons’ breakaway dunk gave Philadelphia a 96-91 lead, but the Cavaliers ended the game on a 14-2 run. James converted a three-point play and Kyle Korver hit a 3-pointer, giving Cleveland the lead.FEATURED STORIESSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’SPORTSBrian Heruela arrival bolsters Phoenix backcourt, defenseDwyane Wade added two baskets and Jae Crowder’s 3-pointer put the Cavaliers ahead 104-98.James had nine points, seven rebounds and six assists in the fourth quarter in his third triple-double of the season. MOST READ OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson The Cavaliers didn’t arrive in Cleveland until 4.a.m. after their flight from Indianapolis was delayed. The Sixers led 18-7, but the Cavaliers hit seven 3-pointers in the first half and built a 38-26 lead. Cleveland was up 52-46 at halftime.Love went through warmups before the decision to hold him out was made. He injured the hip Wednesday against Memphis, but played Friday against Indiana, scoring 20 points in 26 minutes.Sixers forward Dario Saric, who scored 17 points, wore goggles because a left eye laceration and a corneal abrasion of his right eye.TIP-INS76ers: Rookie G Markelle Fultz is no longer experiencing soreness in his right shoulder. The No. 1 overall draft pick, who has only played in four games, will increase his on-court workouts over the next three weeks. … G T.J. McConnell (sprained AC joint in left shoulder) was also out. … G Justin Anderson (left shin splints) will be re-evaluated in two weeks.Cavaliers: Isaiah Thomas (sore right hip) played 4-on-4 Wednesday, but it’s still unclear when he’ll make his debut with the team. The Cavaliers are expected to practice Monday … C Tristian Thompson (strained left calf) experienced soreness after scrimmaging and missed his 19th straight game. He was injured Nov. 1. .UP NEXT76ers: At New Orleans on Sunday night.Cavaliers: Host Atlanta on Tuesday night. Jo Koy: My brain always wants to think funny Coco’s house rules on ‘Probinsyano’ set Phivolcs records 2 ‘discrete weak ash explosions’ at Taal Volcano View commentslast_img read more

Hull thrashed by Crystal Palace and relegated from the Premier League

first_img 3 Bottom of the table at Christmas, Marco Silva’s arrival as manager in January had sparked a turnaround in Hull’s form – but survival always looked unlikely.Knowing nothing but a win would keep their hopes alive for one more week, they made the worst possible start against Palace.Scarcely two minutes had passed when the erratic Italian defender Andrea Ranocchia’s missed kick allowed Zaha directly through on goal, and from there the winger calmly finished beneath goalkeeper Eldin Jakupovic.It already appeared that by taking the lead the hardest part was done, and after a quiet period of play the home side added a second in the 34th minute.Jason Puncheon targeted Benteke with his inswinging, right-wing delivery and the Belgian’s powerful header, under minimal supervision from the Hull defence, had the beating of Jakupovic.From that point on Hull had the air of a defeated team. Palace had no reason to play with ambition, knowing their visitors required a minimum of two goals, and defended with the organisation Allardyce has given them.The Eagles continued to threaten on the counter-attack and the third goal was scored from the penalty spot by Milivojevic with five minutes left after Dawson tripped Jeffrey Schlupp in the box. Hull City have been relegated from the Premier League after being beaten 4-0 by Crystal Palace.After Swansea’s victory over Sunderland on Saturday, the Tigers had to win at Selhurst Park to take the battle for survival to the final day of the season.But they crashed to a heavy defeat in south London, with goals from Wilfried Zaha, Christian Benteke, Luka Milivojevic and Patrick van Aanholt securing Palace – and Swansea’s – safety.Hull join Middlesbrough and Sunderland in dropping into the Championship.The victory for Palace, who only needed a draw to preserve their Premier League status, means Sam Allardyce maintains his remarkable record of never having been relegated from the top-flight. 3 The final blow to Silva’s side came in the last minute as James McArthur’s through-ball sent fellow substitute Van Aanholt clear to calmly place a shot beneath Jakupovic. Hull, who will finish 18th, had begun the season with only 13 fit senior players, without a permanent manager and amid widespread predictions of relegation.Silva’s contract expires at the end of the season, and it would seem that keeping him on board represents Hull’s best chance of making an instant return to the top flight. Hull City have been relegated from the Premier League 3last_img read more