EQT, Eurazeo Lead $700 Billion Wave of Firms Expanding in UAE
Sweden's EQT AB, France's Eurazeo and UK-based Pollen Street Capital are among those setting up in Abu Dhabi, according to people familiar with the matter. They'll join others including growth equity investor Baron Capital Management and credit-focused hedge fund Silver Point Capital Management, which have recently established a presence in Dubai.
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Associated Press
3 minutes ago
- Associated Press
Tennis star Novak Djokovic among investors to buy a stake in second-tier French soccer club Le Mans
LE MANS, France (AP) — Tennis star Novak Djokovic is part of a group of investors who have bought a stake in French second-tier soccer team Le Mans, along with ex-Formula 1 drivers Felipe Massa and Kevin Magnussen, the club said Friday. Le Mans said in a statement that they join other new financial investors into the club, including Latin American sports investment firm OutField and Georgios Frangulis, the founder and chief executive of OakBerry. Frangulis is the boyfriend of three-time women's Grand Slam champion Aryna Sabalenka. 'The uniqueness of this fund also lies in its contribution from high-level athletes,' Le Mans president Thierry Gomez said in the statement. 'Novak Djokovic, Felipe Massa, and Kevin Magnussen will be part of the adventure.' No financial details were given. Djokovic is the owner of a men's record 24 Grand Slam titles in tennis. The 38-year-old Serb has won 100 career titles overall. Massa won 11 races and secured 41 podiums in his F1 career. When driving for Ferrari, the popular Brazilian was within a whisker of winning the 2008 title, only for Lewis Hamilton to beat him in a dramatic finish at the last race. Hamilton won the title by 98 points to 97. The 32-year-old Magnussen drove close to 200 races in F1, securing one podium and one pole position. But the Danish driver was not retained by Haas at the end of last year when his contract expired. Le Mans soccer club, which is celebrating its 40th anniversary, begins its league campaign on Aug. 9. Le Mans — a small city in northwestern France — also hosts the famed 24-hour endurance car race. ___ AP soccer:
New York Times
5 minutes ago
- New York Times
Felipe Massa, Kevin Magnussen, Novak Djokovic invest in Ligue 2 club Le Mans through Brazilian firm
Felipe Massa, Kevin Magnussen and Novak Djokovic have become investors of Ligue 2 club Le Mans FC through a Brazilian investment firm, the French club's president announced on Friday. Le Mans secured promotion back to France's second tier last season via a second-placed finish in the third division, National. Club president Thierry Gomez said in a statement on their website that Le Mans welcomed private equity firm OutField as its new financial partner in order to pursue its ambitions of becoming 'a permanent presence in French professional football'. Advertisement OutField's investment in Le Mans is led by co-founder Pedro Olivera, and among its consortium of investors, it named Georgios Frangulis, the founder and CEO of health food brand OakBerry, alongside sportsmen Djokovic, Massa and Magnussen. 'We want to help grow the city's brand and sporting heritage,' Frangulis said in the statement. 'Le Mans has a unique name in world sport, and the sense of belonging the club can offer makes this project exceptional. Novak, Felipe, and Kevin understand this better than anyone, and that's why they're so excited.' Djokovic, formerly ranked the No. 1 men's tennis player in the world, has won 24 Grand Slam titles during his career. The 38-year-old is yet to retire, and another major trophy would see him pull clear for the record of most Grand Slam titles won by any player in the history of the sport. Le Mans said the Serbian's 'mental strength and unique approach will bring considerable added value' to the club. Massa and Magnussen, meanwhile, have both had careers in Formula 1. Magnussen has more recently competed in endurance racing and he represented BMW M Team WRT in competing at the 24 Hours of Le Mans in June, the 102-year-old race for which the French city is globally famed. Massa won 11 Grands Prix between 2006 and 2008 before he suffered a fractured skull due to a spring from Rubens Barrichello's car hitting his helmet at the Hungarian Grand Prix in 2009. 'Le Mans FC has a strong connection with motorsport, and when my good friend and partner at Oakberry, Georgios Frangulis, presented the project to me, I wanted to be a part of it—especially alongside people I deeply respect, like Djokovic, who needs no introduction, and Magnussen, with whom I shared many years in Formula 1,' he said. 'It's undeniably a great opportunity, taking advantage of the momentum of French football, the reigning Champions League champion, which is currently attracting significant investment.' Advertisement Their involvement marks a continuing trend of high-profile athletes becoming involved in the investment of sports teams. Rapper Snoop Dogg and AC Milan midfielder Luka Modric invested in Swansea City earlier this summer, while Tom Brady became a minority owner of Birmingham City in 2023. American golfers Jordan Spieth and Justin Thomas purchased stakes in Leeds United the same year. Meanwhile, Trent Alexander-Arnold, Anthony Joshua and Rory McIlroy joined investment group Otro Capital in 2023, which bought into the Alpine F1 team. LeBron James, a four-time NBA MVP, is another example, having invested a minority stake in the Fenway Sports Group (FSG), which owns Liverpool.
Yahoo
33 minutes ago
- Yahoo
Applied Digital (APLD) Soars 31% on Expanded Multi-Billion Contract with CoreWeave
We recently published . Applied Digital Corp. (NASDAQ:APLD) is one of the best-performing stocks on Thursday. Applied Digital snapped a four-day losing streak on Thursday, jumping 31.01 percent to close at $13.14 apiece as investors took heart from its expanded lease agreement with an AI hyperscaler that could result in some $11 billion in revenues. In a statement, Applied Digital Corp. (NASDAQ:APLD) announced that CoreWeave Inc. (NASDAQ:CRWV) exercised its lease option for an additional 150 MW of critical IT load on top of the 250 MW signed earlier, bringing the total capacity to 400 MW. Copyright: believeinme33 / 123RF Stock Photo The new load would effectively raise Applied Digital Corp.'s (NASDAQ:APLD) revenues by another $4 billion to a total of $11 billion from the said contract alone. According to the company, the first 100 MW facility is scheduled to be operational in the fourth quarter of the year, to be followed by a 150 MW capacity in the middle of next year, and the third 150 MW in 2027. Meanwhile, Applied Digital Corp. (NASDAQ:APLD) narrowed its net loss attributable to shareholders in the fourth quarter ending May 2025 by 16 percent to $53.9 million from $64.7 million in the same period last year. Total revenues increased by 41 percent to $38 million from $26.9 million year-on-year. While we acknowledge the potential of APLD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
