media captionThe story of the night so far… His campaign is also hopeful they still can take Arizona. What were the other key results? – Advertisement – In the early hours of Wednesday, Mr Trump announced from the White House that he had won and said he would take the election to the Supreme Court. The BBC projects Mr Biden won Michigan. US media forecast he has won Wisconsin. No result has emerged in Pennsylvania. What legal challenges are afoot? Latest updates: Biden takes MichiganDemocrats hopes of gaining US Senate dwindleUS election results in maps and chartsTables turned as Trump voters start to worry The Democratic challenger said his campaign was feeling “very good” about Pennsylvania. Winning all three of these Rust Belt states would make Mr Biden victorious. The Trump campaign is challenging vote counts in the critical states of Wisconsin, Pennsylvania and Michigan. The Trump campaign said the president would formally request a Wisconsin recount, citing “irregularities in several Wisconsin counties”. What are the campaigns saying? – Advertisement – Republican National Committee Chairwoman Ronna McDaniel said: “The fight’s not over. We’re in it.” Not so fast, said the campaign of Republican President Trump.
She added that Veritas did not usually back inaugural fund launches, but that Livonia was “very well connected within the local economies.”She added: “Building regional champions instead of country-specific winners makes a lot of sense. Economic growth in the Baltic region is among the strongest in Europe and the fundamentals are in good shape.”Kristo Oidermaa, portfolio manager at LHV Pension Funds Oidermaa added that the fund commitment fit well into its existing strategy, allowing it to benefit from growth in the Baltic market.“Our investment strategy has a small home bias and we regard all three Baltic countries as our home markets,” Oidermaa said. “Over the last few years, we have considerably increased our allocation of alternative assets, with commercial real estate and timber and now private equity funds.”Kaido Veske, co-founding partner of Livonia Partners, said that the fund would focus on mature companies with a track record of up to 5 years and an annual turnover starting at €5m, but up to €40m.He added that the fund is looking for companies with an export focus and which were undercapitalized, and that while earnings volatility in the region would still be higher than elsewhere in Europe, the countries in question also boasted higher growth than Europe as a whole. Finnish pensions insurer Veritas and LHV Pension Funds, Estonia’s second largest pension fund manager, are among six investors committing €70m to a pan-Baltic private equity fund.Domiciled in Latvia, the Livonia Partners-managed fund will invest €3-15m of equity and mezzanine capital per investment in up to 12 small and medium-sized enterprises (SMEs) active largely in Estonia, Latvia and Lithuania. The first investments will be made in the next few months, with the possibility that firms in adjacent countries could also receive funding.Livonia Partners Fund I will acquire a blend of majority and minority stakes, acting as a hands-on investor and holding the stakes for around 5 years. Though it has a generalist mandate, the fund’s initial focus will be on manufacturing, business services and consumer companies, reflecting the management team’s experience.The €2.8bn Veritas has committed €5m from its private equity allocation. Ilona Karpinnen, portfolio manager, private equity, Veritas, told IPE: “Livonia fits well into our private equity portfolio, as European small and mid-market buyouts are the backbone of our private equity programme.
Matthew Macklin is gearing up for one of the biggest fights of his career tomorrow night.The man with strong Tipperary links will fight in Ireland for the first time in nearly 5 years, when he faces Jorge Sebastian Heiland on Saturday at the 3 Arena in Dublin.The two will clash in a middleweight bout that is also a WBC world title eliminator. Whoever wins will take a big step towards a fight against WBC champion Miguel Cotto, although Macklin’s fellow Irishman Andy Lee could come into the reckoning.
1 Chelsea goalkeeper Thibaut Courtois has praised the club for the way they handled him during his two-season loan spell at Atletico Madrid.The Belgium international stopped has pipped Petr Cech to the No1 spot in Jose Mourinho’s starting XI this season after impressing in La Liga over two campaigns.After the Champions League draw with Schalke on Wednesday night, Mourinho refused to answer any more questions about how he will manage to keep both goalkeepers happy – but he repeated his claim that the pair are among the best three in the world.It was widely believed Courtois would have demanded a permanent move away from Chelsea if he wasn’t given a first-team chance this season – like his international team-mate Romelu Lukaku, who moved to Everton.But he has just signed a new five-year-deal and thanked the club for the close attention they paid to him while he was away from west London honing his skills in Spain.“It is really nice when one of the best teams in the world goes and gets you,” Courtois said about his move from Genk in 2011.“They put a lot of trust in you and they give you the chance to develop in the best way you can.“Christophe Lollichon [Chelsea’s goalkeeping coach] followed me when I was abroad and the club kept in contact, watched my games and analysed my performances. That was really nice.“You feel important because, even when you are not in Chelsea colours, they know you are developing well and also they are supporting you.” Thibaut Courtois