Cesc Fabregas of Chelsea celebreates after a goal on Tuesday night. Julian Finney / Getty Images / September 20, 2016
Cesc Fabregas of Chelsea celebreates after a goal on Tuesday night. Julian Finney / Getty Images / September 20, 2016

League Cup results: Chelsea, Liverpool, Arsenal win big; Everton and Bournemouth crash out



League Cup third-round results

Bournemouth 2-3 Preston North End (aet)

Brighton 1-2 Reading

Derby County 0-3 Liverpool

Everton 0-2 Norwich City

Leeds United 1-0 Blackburn Rovers

Leicester City 2-4 Chelsea (aet)

Newcastle United 2-0 Wolverhampton Wanderers

Nottingham Forest 0-4 Arsenal

// Cesc Fabregas made an emphatic point to Chelsea manager Antonio Conte as his double sealed a 4-2 win at Leicester City, while Everton and Bournemouth suffered shock third-round exits from the English Football League Cup on Tuesday.

Fabregas has been limited to three substitute appearances in the Premier League since Conte took charge over the summer, but the Spain midfielder proved he can still be a game-changer with an influential display capped by the decisive two goals in extra-time.

“I was happy to play from the start! Hopefully this will shut up a few journalists talking rubbish all the time,” said Fabregas, who has been linked with a move away from Chelsea.

Elsewhere, second-tier Norwich City spoiled Everton's impressive start to the season and inflicted Ronald Koeman's first defeat as manager with a 2-0 win at Goodison Park.

Bournemouth were the other top-flight casualties as second-tier Preston North End won 3-2 thanks to a hat-trick from Denmark striker Simon Makienok.

At the King Power Stadium, Shinji Okazaki put Premier League champions Leicester ahead in the 17th minute when the Japan striker punished suspect Chelsea defending to head home from close range.

Okazaki followed his first goal since March with a second in the 34th minute.

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Gary Cahill reduced the deficit on the stroke of half-time, the defender heading home after being left unmarked at the far post from a Fabregas corner.

The visitors equalised four minutes after the interval through Cesar Azpilicueta’s blistering long-range effort.

Leicester had to play extra-time with 10 men after Marcin Wasilewski’s 89th minute dismissal for elbowing Diego Costa and Fabregas made them pay, finishing a flowing move in the 92nd minute and drilling home again two minutes later.

Everton are second in the Premier League but Koeman made six changes and his stand-ins were brushed aside by promotion-chasing Norwich.

The Championship side went ahead when former Everton striker Steven Naismith slipped as he went to shoot and inadvertently lobbed the ball into the net.

Josh Murphy’s superb strike from the edge of the area in the 74th minute completed the upset.

“I can’t criticise the players. We played well but weren’t clinical enough. The difference was Norwich were clinical with their two chances,” Koeman said.

At Dean Court, Makienok, who hadn’t scored in his previous 19 appearances, gave Preston the lead in the 10th minute before Bournemouth equalised through Lewis Grabban’s 53rd minute penalty.

Dan Gosling put the hosts ahead from close range in the 76th minute, only for Makienok to force extra-time in the 85th minute and then win it for Simon Grayson’s men in the 111th minute.

Lucas Perez's first goals for Arsenal inspired a 4-0 rout of second-tier Nottingham Forest at the City Ground.

Manager Arsene Wenger, who has never won the League Cup, made 11 changes from the team that thrashed Hull City on Saturday and the understudies went ahead in the 23rd minute through a long-range effort from Switzerland midfielder Granit Xhaka.

Spanish striker Perez, who arrived from Deportivo La Coruna on transfer-deadline day, opened his Arsenal account in his third appearance with a 60th-minute penalty after a foul on Chuba Akpom.

Perez got his second in the 71st minute and Alex Oxlade-Chamberlain got Arsenal’s fourth in stoppage time.

“It was a motivated team against us and we had a complete performance. The speed and movement of our play was fantastic,” Wenger said.

Liverpool, last year's beaten finalists, remain on course for a return to Wembley after a 3-0 win against Championship side Derby County at the iPro Stadium.

Estonia centre-back Ragnar Klavan took advantage of poor Derby defending to fire home in the 24th minute.

Philippe Coutinho doubled Liverpool’s lead in the 50th minute and Divock Origi put the result beyond doubt four minutes later.

Newcastle United defeated Championship rivals Wolves 2-0, Leeds beat fellow second-tier side Blackburn 1-0, while Reading won 2-1 in another all-Championship clash at Brighton.

*Agence France-Presse

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

MATCH INFO

Newcastle United 3
Gayle (23'), Perez (59', 63')

Chelsea 0

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