Gonzalo Higuain is a target for Napoli and Arsenal.
Gonzalo Higuain is a target for Napoli and Arsenal.
Gonzalo Higuain is a target for Napoli and Arsenal.
Gonzalo Higuain is a target for Napoli and Arsenal.

Sport

Transfer talk: Napoli target Real Madrid striker Gonzalo Higuain

Argentine striker on radar after Italian Serie A club sell Edinson Cavani to Paris Saint-Germain.

Press Association

July 17, 2013

  • English
  • Arabic

Gonzalo Higuain, the Real Madrid striker, is a key target for Aurelio De Laurentiis, the Napoli president, as he prepares to reinvest the funds generated by Edinson Cavani's sale to Paris Saint-Germain.

De Laurentiis, who on Tuesday night expressed his disappointment Cavani, the Uruguayan striker, had opted to leave Italy, tempered the news by revealing he has now made €124.5 million (Dh601.2m) available to Rafael Benitez, the new coach, in the current transfer window.

Cavani moved to the Parc des Princes for €64.5m and a chunk of that fee could now be paid to Real for their wantaway Argentine forward Higuain, who has also been linked with English Premier League club Arsenal.

Quoted in La Repubblica Sport, De Laurentiis admitted in a question and answer session with fans on his official Twitter account that he is pursuing Higuain, his Madrid teammate Raul Albiol and Internacional striker Leandro Damiao.

"It's true that we're negotiating for Gonzalo Higuain and Leandro Damiao," he said.

"The money we got for Cavani was €64.5m and added to the €60m we had set aside for the transfer budget there will be €124.5m to carefully invest on Napoli.

"There are various names on the table, we're assessing the situation.

"[Albiol] is undergoing medical tests and we hope he passes them."

Napoli have already signed Belgian winger Dries Mertens from PSV Eindhoven and Real striker Jose Callejon as Benitez plots another Serie A title challenge, after the Partenopei finished second to Juventus under Walter Mazzarri last season.

The Bianconeri have not been resting on their laurels, however, adding prolific duo Carlos Tevez and Fernando Llorente to their frontline in recent weeks.

"Is there an area of the team where we're better than Juventus?" De Laurentiis added. "It's too early to tell.

"Are we targeting the Scudetto or a Champions League semi-final? We're always aiming for the maximum and we'll be competitive both in Italy and in Europe.

"Benitez was an excellent appointment and the new boys are settling in."

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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

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UAE currency: the story behind the money in your pockets

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.”

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Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

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