Liverpool manager Jurgen Klopp praised Darwin Nunez after the striker scored twice during a comfortable 5-1 Europa League victory over Sparta Prague.
The Uruguay international took his tally for the season to 16 - just two behind Mohamed Salah who had a goal disallowed by VAR on his return from injury - with a performance that set him and the team up perfectly for Sunday's visit of Premier League title rivals Manchester City.
Alexis Mac Allister got the visitors off to the perfect start in the Czech capital as he won and converted a penalty after just seven minutes.
Sparta had dumped out Galatasaray in the previous round and created plenty of chances against a weakened Liverpool defence. But the difference in quality between the sides showed in the final third.
Darwin Nunez's dipping shot from long range beat Peter Jensen to make it 2-0, before the Uruguayan smashed home Mac Allister's through ball in first-half stoppage time.
Conor Bradley replaced Joe Gomez at half-time and his first act was to fire into the top corner of his own goal one minute into the second half.
But Luis Diaz's deflected effort quickly restored Liverpool's three-goal cushion.
Salah made his comeback from a hamstring injury as a substitute and thought he had marked his return with a goal, but a VAR review disallowed his strike for offside.
Instead, it was another substitute Dominik Szoboszlai who fired in the fifth in stoppage time.
"He had absolutely more than (an) OK first season but he had to adapt, that's done, and he is settled in the middle of the team," said Klopp of Nunez after the last-16 first leg which has put them within touching distance of the quarter-finals of the only trophy he has not won in his career.
"Wonderful guy, wonderful boy. He loves to play for this team together with these boys and has quality coming out of his ears, to be honest.
"It's like strikers are, they score and then they don't score. Is he at his absolute peak in general? Not now for us. But can he develop? Yes. Is he a threat all the time? Yes.
"He has the most important attitude a striker needs to have; he missed chances but all strikers are doing that but he is not bothered by it and just keeps going.
"That's why he now has a nice number of goals, games to come, opportunities to come.
"When he's not scoring he for us is incredibly important as he is a constant threat and gives us spaces in areas and options."
Meanwhile, Brighton's first foray into European football looks over at the last-16 stage after the Seagulls were thrashed by in-form Roma 4-0.
The Italian giants have only lost once in 10 games since legendary former player Daniele De Rossi replaced the sacked Jose Mourinho in January.
AC Milan beat 10-man Slavia Prague 4-2, but Xabi Alonso's Bayer Leverkusen had to come from 2-0 down to preserve their unbeaten season in a 2-2 draw against Qarabag.
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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COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
