PGGM, AXA Investment Managers, Legal & General Investment ManagementPGGM – Erik van de Brake has been appointed as head of infrastructure. He will be responsible for 22 staff managing more than €7.5bn in assets and succeeds Frank Roeters van Lennep, who in September was appointed as CIO of private markets at the €200bn asset manager. Roeters van Lennep had succeeded Ruulke Bagijn, who left PGGM in May to become global head of real asset private equity at AXA Investment Managers-Real Assets.AXA Investment Managers – Marion Le Morhedec has been appointed head of business development for AXA IM Fixed Income after more than 10 years as a portfolio manager. She is stepping down from her role as head of the inflation-linked bond team, with Jonathan Baltora taking over. For the remainder of 2016, Le Morhedec will spend at least 50% of her time working with the global inflation team to ensure a smooth transition, AXA said. Baltora, who joined AXA in 2010, will become the lead portfolio manager on its global inflation strategies.Legal & General Investment Management (LGIM) – Aaron Meder has been appointed chief executive at LGIM America, while Anton Eser has been appointed CIO. Meder will transition into the role over the next few months, moving from London to Chicago. Eser, co-head of LGIM’s Global Fixed Income business, will succeed Meder when he takes up his new role in Chicago. Colin Reedie, head of Euro Credit, will replace Eser as co-head of Global Fixed Income, alongside John Bender, also CIO of US Fixed Income.
A UK pension scheme has for the first time been lifted out of an assessment period with the Pension Protection Fund (PPF) in a deal that secures members’ benefits in full. CovPress, a UK manufacturer that went into administration last September and whose pension scheme has been in a PPF assessment period, has been acquired by industrial group Liberty House in a deal reached overnight.The CovPress pension scheme is being transferred as part of the sale.Joint administrator of the deal, Eddie Williams of Grant Thornton, said: “This has avoided the scheme’s passing into the Pension Protection Fund through an ongoing employer, which we understand has never been previously achieved for a business in administration. This has been pivotal to the outcome of the administration.” Lane Clark & Peacock advised Liberty, and Timothy Sharples, partner at the pension specialists, said “the members of the pension scheme can now look forward to receiving their benefits in full rather than reduced benefits from the Pension Protection Fund”.A spokeswoman for the PPF said: “In this instance, we were not needed, as the purchaser of the Covpress business voluntarily agreed to take on responsibility for the pension scheme. This has achieved a better result for the scheme members and the PPF.”The PPF acts as a rescue fund for pension schemes whose sponsoring employers have gone into administration and do not have sufficient assets to pay benefits matching or exceeded PPF levels of compensation.Schemes go through an assessment period before entering the fund.There have been instances of other deals being struck to prevent UK pension schemes from falling into the PPF, such as that of the Uniq scheme in 2011 and MIRA Retirement Benefits Scheme in 2015, but these have been buyout deals with insurers and involved a reduction in member benefits, while still exceeding PPF compensation levels.Alex Waite, partner at LCP, told IPE these deals were sometimes referred to as “PPF plus” deals but that the CovPress case was unique because it constituted a full rescue. “This is unique because it is as if the scheme had never gone into the PPF assessment in the first place,” he said. “It doesn’t reduce member benefits, which has never been done before.”In other news, the UK’s Civil Aviation Authority (CAA) Pension Scheme has completed a £90m (€104m) buy-in deal with the Pension Insurance Corporation (PIC) in a second de-risking step.The CAA scheme provides defined benefits to the employees of the National Air Traffic Services and the CAA, and had assets of £2.2bn as at 31 March 2016.The deal with PIC, announced today, is the second de-risking transaction for the scheme, after it completed a £1.6bn bulk annuity with Rothesay Life in 2015.Aon Hewitt and Reed Smith advised the scheme.Paul Belok, partner in the former’s risk settlement group, highlighted the agreement of a price lock during an exclusivity period with PIC as a “particularly positive” feature of the transaction, as this meant the terms of the deal were not affected adversely by market movements during the relatively volatile period before the risk was transferred.Just Retirement today announced that it has completed a £36m medically underwritten bulk annuity deal covering the liabilities of fewer than 50 members of the defined benefit pension scheme of Aliaxis, an industrial company that makes products such as electrical ducts and conduits, and draining systems.Meanwhile, providers of stewardship advisory services have been selected for a new National Framework Agreement available for use by administering authorities of UK local authority pension schemes and other public sector pension bodies.Norfolk County Council ran an EU procurement process on behalf of several local government pension schemes (LGPS) for a multi-provider framework that covers services split into five “lots”, mainly covering voting and engagement but also “stewardship research and data services” and “stewardship-related project services”.The providers that made the cut for various services were: BMO Global Asset Management, FTSE Russell, GES International, Glass Lewis Europe, Hermes EOS, Manifest information Services, Mercer, MSCI ESG Research, oekom research, Pension & Investment Research Consultants, Robeco Institutional Asset Management, Sustainalytics UK and Vigeo Eiris.Only with respect to one service category, for combined voting and engagement services, was no cut made; five offers were received, and five providers awarded a contract.Depending on the type of service they require, pension scheme administering authorities will either have to run a further competition between the providers named to the National Framework Agreement, or they are free to choose from the list based on a “supplier catalogue”.
UK oil company Premier Oil has completed the Anoa development well in the Natuna Sea Block A and is set to bring it on production in early August.Premier Oil is the operator of the Natuna Sea Block A offshore Indonesia with 28.67% interest. Partners in the block are Petronas, PTT, Pertamina and Kufpec.The Block A consists of four separate producing fields, which have been developed via a combination of platforms and subsea tie-backs to the Anoa platform and the Gajah Baru WHP and CPP.According to Premier’s update on Monday, the Anoa development well (WL-5X) achieved an equipment limited flow rate of 28mmscf/d, significantly higher than the 18mmscf/d rate achieved with the original well test, and estimated reserves for this well alone are approximately 75-100 Bcf.The WL-5x well made the Lama discovery under Anoa in 2012. Premier has been working to re-complete the well and tie it into production in the third quarter of 2017.The outcome of the long-term production test from this well will help to prove up the production contribution from the deeper zones within the Anoa field, Premier concluded.Offshore Energy Today Staff
Well-Safe Solutions has bee awarded a contract to decommission up to twenty-one wells on the Schooner and Ketch fields in the UKCS, operated by DNO North Sea (ROGB).The Schooner and Ketch fields, located in the UK Southern North Sea, ceased production in August 2018, with 20 platform wells and a single subsea well.The project will start immediately with a plan to begin offshore operations at the end of 2019.The campaign is expected to last approximately two years.Phil Milton, chief executive at Well-Safe Solutions, said: “This is a fantastic achievement for Well-Safe, allowing us to build a continuous programme of work through campaign-based approach and realising the associated benefits.”Well-Safe will be responsible for the delivery of key aspects of the project including engineering, contractor management and logistics with DNO retaining well operatorship.The contract award follows the recent announcement of Well-Safe’s acquisition of its first semi-submersible asset, the Well-Safe Guardian.
Indianapolis, In. — The American Legion Department of Indiana is proud to announce that enrollment is open for the second annual Indiana Youth Cadet Law Enforcement Academy and they are currently accepting applications for the 2019 class.The Indiana Youth Cadet Law Enforcement Academy, a partnership between the Indiana Troopers Youth Services and The American Legion, Dept. of Indiana, provides first-hand experiences and insight into the operations of law enforcement agencies. The program also allows these highly motivated young people to consider law enforcement as a potential career choice.“If this program changes one life, keeps one at-risk youth off the streets and out of a body bag if it redirects one Hoosier youth life from negative to positive, we believe it’s worth it,” said Indiana Youth Cadet Law Enforcement Academy Chairman Mark Gullion.The 2019 Academy will be held at Anderson University, July 14 through July 19, 2019. Please visit www.indianalegion.org/lawcadet for more registration information, or contact Sgt. Danielle Elwood Henderson at (317) 450-8720.The 2019 Academy will be limited to the first 75 registered applicants. Registration is open to boys and girls currently in grades 9 thru 12. The registration/sponsorship fee is $300 per Cadet. This fee, which may be paid by an American Legion Post, District or by donation, is payable to the Department of Indiana no later than July 1, 2019.“The American Legion believes that our youth have a strong sense of patriotism and high regard for Law and Order, said Gullion. “The objective of IYCLEA Camp is to provide a first-hand look at the role of a police officer in today’s society.”The American Legion Department of Indiana is comprised of more than 77,000 military service veterans who have served honorably during times of conflict in defense of their nation and has been active within Indiana since 1919. The Indiana American Legion has represented veterans from every major conflict since World War II to Iraq and Afghanistan within its membership.The Indiana Legion provides representation to 63,000 of the 87,500 service-connected disabled veterans in Indiana for entitled Veterans Affairs benefits, making up 71 percent of the claims work in the state, bringing back more than 385 million a year to the Hoosier economy, free of charge, regardless of membership.
April 16, 2020 The Home Plate Project initiative was originally scheduled to launch its second year in the fall. But Brooks, Wainwright and Gibson saw the urgency now to provide meals for children who rely on free or reduced-price meals at schools that are closed because of the pandemic.On short notice, the charity groups were able to raise $937,100.Wainwright founded Big League Impact in 2013. He says the big leaguers felt the need to jump in right away to help feed kids in their cities.___Italian second-division soccer club Ascoli has fired its coaching staff because of the economic crisis caused by the coronavirus pandemic. Conley says “HORSE is something that we’ve all played growing up and it’s something I actually play after most of my workouts in the summertime.”Conley adds “I like to still have fun and throw shots off the backboard, the walls, bounce stuff in. It’s just good to get the creative juices flowing again and I know all the competitors are feeling that way.”___The Canadian Open golf tournament has been canceled because of the to the coronavirus pandemic.The event was scheduled for June 8-14 at St. George’s Golf and Country Club in Toronto. The 43-year-old Vieira is a former player who won the 1998 World Cup with France.Mayor Christian Estrosi says “together we’re always stronger and I thank Patrick Vieira and Nice for their generosity.”Estrosi says the tablets are essential in helping people maintain contact with their families “and limit the isolation of our elders during the confinement period.”___French soccer club Paris Saint-Germain is helping to provide meals for medical staff combating the coronavirus outbreak. Mike Dowse, whose term began on Jan. 1, said in a conference call with reporters Thursday that “time is on our side at this point” because the U.S. Open is not scheduled to begin until late August.It would be the next major tennis championship on the calendar because the French Open’s start was postponed from May until September and Wimbledon was canceled altogether.The men’s and women’s tennis tours are on hold entirely until at least mid-July, and one tournament in August already has been scrapped.As for holding the U.S. Open with no fans, Dowse said the USTA is “not taking anything off the table, but right now, I’d say that’s a highly unlikely scenario.”He did add that the USTA “may reconsider.” Ascoli says it made the decision only after coach Roberto Stellone and his staff refused to terminate their contracts consensually with a settlement agreement.The Serie B team says the move is part of measures being taken to “safeguard” the squad’s future “amid the temporary situation we are experiencing.”Stellone was hired in February to replace Paolo Zanetti. The former coach and his staff are still under contract with the club.Youth team coach Guillermo Abascal has been promoted to direct the first squad.Ascoli is in 15th place in the 20-team division. ___The International Skating Union has formally canceled its figure skating and short track world championships because of the coronavirus pandemic.The ISU made the decision after an online meeting of its governing council.The World Short Track Speed Skating Championships were initially set for March 13-15 in Seoul, South Korea, while the World Figure Skating Championships were supposed to be held in Montreal from March 16-22. Both events had already been postponed in the early days of the worldwide lockdown caused by the pandemic. Now, it’s official — they won’t be held at all.This will be the first year without the figure skating worlds since 1946, the last of a seven-year layoff because of World War II. Since the event’s founding in 1896, the only other cancellations occurred from 1915-21 because of World War I and its aftermath. No soccer games have been played in Italy since March 9. That was when the government ordered a nationwide lockdown. The lockdown is set to expire after May 3.___Former NFL coach Don Shula and three of his former Miami Dolphins players are providing free meals to those seriously affected by the coronavirus crisis. The program is funded by a $250,000 grant from team owner Stephen Ross.Shula, John Offerdahl, Kim Bokamper and Bob Brudzinski — all involved in the restaurant business — have teamed to help deliver breakfast, lunch or dinner to those most at risk.The Dolphins said Thursday the program provides wrapped meals for health care and nonprofit organizations and first responders. It is also aimed at keeping food service workers employed. The Canadian Open is the third oldest event on the PGA Tour schedule behind the British Open and the U.S. Open.___The French soccer federation is preparing a rescue package for its 14,000 amateur clubs.The FFF says it will announce its “massive support plan for amateur soccer” in the coming days. It says the plan will support clubs when their leagues restart next season.The FFF canceled all its leagues this season because of the coronavirus pandemic except the third division and the women’s first division. The top two men’s leagues in France and the League Cup are run by the LFP. NYRA on Thursday announced the spring/summer meet will be delayed but did not set a new opening day. It continues to assess options for the Belmont Stakes, scheduled for June 6, including shifting the third jewel of the Triple Crown to a later date.The Kentucky Derby has already been rescheduled from May 2 to Sept. 5. The Maryland Jockey Club has canceled infield activities for the Preakness Stakes in Baltimore but not announced whether it would be held May 16 or a later date.Racing at Belmont Park is scheduled to go on through July 12 before New York racing shifts to Saratoga in upstate New York.___The new CEO of the U.S. Tennis Association says he expects a decision on the status of the 2020 U.S. Open to be made by June and calls the prospect of holding the Grand Slam tournament without spectators because of the coranivirus pandemic “highly unlikely.” ___Mike Conley Jr. expected to spend this week starting a quest for a championship with the Utah Jazz.He’s playing for the NBA HORSE title instead.Conley is one of four semifinalists in the tournament. The conclusion will be streamed Thursday night on the ESPN platforms. The other semifinalists are retired NBA champion Chauncey Billups, Chicago Bulls guard Zach LaVine and WNBA All-Star Allie Quigley of the Chicago Sky.The HORSE tournament was born to give basketball-starved fans some content and Conley says it scratched his itch to be competitive again as well. The BCCI bowed to the inevitable to suspend the Twenty20 competition until further notice.BCCI honorary secretary Jay Shah says “the health and safety of the nation and everyone involved in our great sport remains our top priority and … the IPL 2020 season will only commence when it is safe and appropriate to do so.”The eight-week IPL was to begin on March 29 but was then pushed back to April 15.___Nice coach Patrick Vieira has been thanked by the city’s mayor for donating 250 iPads to elderly people in four public care homes. The World Synchronized Skating Championships in Lake Placid, New York have been formally canceled as well. That event was originally set for April 3-5.The ISU plans another online meeting April 28 to discuss scheduling possibilities for the 2020-21 skating season. ___More than 50 Major League Baseball players representing all 30 teams have raised nearly $1 million to provide over 4 million meals to support childhood hunger prevention during the coronavirus pandemic.The Home Plate Project is a partnership between Major League Baseball, country music superstar Garth Brooks’ Teammates for Kids Foundation, and Big League Impact, a program led by St. Louis Cardinals pitcher Adam Wainwright and Texas Rangers pitcher Kyle Gibson. Associated Press The Latest: NYRA postpones start of racing at Belmont Park The USTA says it still plans to stage its tournament as scheduled from Aug. 31 to Sept. 13.The U.S. Open would be the next major tennis championship on the calendar after the French Open was postponed and Wimbledon was canceled.The WTA and ATP professional tours are currently suspended until at least July and one tournament in August already has been called off.___World Rugby is offering a $100 million relief fund for national unions distressed by the coronavirus pandemic. The French Cup final on April 25 and the women’s French Cup semifinals on March 21 have been postponed but not canceled.___The U.S. Tennis Association says it is overseeing a commitment of more than $50 million to help the sport deal with the effects of the coronavirus pandemic.The USTA says it is shaving more than $20 million from its budget by reducing salaries of its management and eliminating programs in player development and marketing.The group that runs the U.S. Open says the total future support provided by the USTA and its industry partners for the sport at the grassroots level “will be determined by the financial performance” of the 2020 Grand Slam tournament in Flushing Meadows. Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___While the start of horse racing season at Belmont Park is being postponed from the original April 24 date, the New York Racing Association says it’s committed to holding the Belmont Stakes in this year. World Rugby says “it is designed to assist the maximum number of unions for the maximum amount of time while there is a rugby void.”The body adds “the financial package will potentially involve a combination of advances and loans” for Six Nations and Sanzaar unions and that “World Rugby is also committed to supporting emerging nations and regional associations where required.”___The Indian Premier League has been suspended indefinitely because of the coronavirus pandemic.The IPL has become cricket’s primary annual competition in April and May but India this week extended the world’s biggest lockdown to May 3. That has dashed hopes by the Board of Control for Cricket in India of a shortened IPL in May possibly without spectators. Up to 1,200 meals per day are being prepared in the kitchens of the Parc des Princes in western Paris. They are then delivered by volunteers from the Street Food en Mouvement (Street Food on the Move) association.Volunteers from the association have used the stadium kitchens since April 9. Four trucks have been used to take more than 5,000 meals to seven hospitals.Every day a team of 12 delivers a full meal outside hospitals from 11 a.m.-3 p.m. and 6 p.m.-10 p.m.PSG president Nasser Al-Khelaifi says the hospital workers are “true heroes” who should continue to be applauded.___ More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6
KINGSTON, Jamaica (CMC) — Test seamer Alzarri Joseph combined with Jeremiah Louis to destroy Jamaica Scorpions’ second innings and propel Leeward Islands Hurricanes to a much-needed 34-run victory, in an extraordinary, low-scoring seventh round game here Sunday.Chasing 149 to win at Sabina Park on the third day of the day/night contest, the hosts collapsed to 114 all out, with the 20-year-old Joseph picking up five for 43 – his fourth five-wicket haul in only his 15th first class game.Fellow pacer Louis, 21, finished with four for 23 to add to his four from the first innings, and end with match figures of eight for 27 which were good enough to earn him Man-of-the-Match honours.Test batsman Jermaine Blackwood resisted with a top score of 47, an innings lasting 90 deliveries and a shade under 2-1/4 hours, and including four fours and a six.But the right-hander found little support and his 37-run, eighth-wicket stand with Jerome Taylor (19) was the best of the innings.Earlier, Hurricanes fought their way to 133 – the highest innings total of the game – after resuming on a precarious 31 for five.Their fightback was due to a wicketkeeper Jahmar Hamilton’s invaluable 45 and Louis’s 23. When Hurricanes slumped further to 63 for seven, the pair combined in a 63-run, eighth-wicket partnership – the best of the game – to rally the innings.Hamilton faced 98 deliveries in 143 minutes and struck five fours, before he was eighth out.Pacers Rovman Powell (2-12) and Jerome Taylor 2-21, along with leg-spinner Damion Jacobs (2-28) and left-arm spinner Nikita Miller (2-43) claimed two wickets each.A whopping 25 wickets fell on Saturday’s second day after the first day was abandoned due to persistent rain.HURRICANES 1st innings 71SCORPIONS 1st innings 56HURRICANES 2nd innings (o/n 31 for five)M. Hodge c wkp. Walton b Powell 15K. Powell run-out 2J. Otto lbw b Taylor 5K. Carty lbw b Taylor 2N. Bonner c wkp. Walton b Powell 0J. Hamilton lbw b Jacobs 45J. Campbell c Thomas b Miller 18R. Cornwall lbw b Mindley 5J. Louis stp. Walton b Jacobs 23G. Tonge b Miller 0A. Joseph not out 6Extras: (lb-10, nb-2) 12Total: (all out, 50 overs) 133Fall of wickets: 1-3, 2-13, 3-26, 4-26, 5-26, 6-56, 7-63, 8-126, 9-127.Bowling: Taylor 12-5-21-2, Mindley 9-1-19-1 (nb-2), Powell 7-3-12-2, Miller 13-1-43-2, Jacobs 9-1-28-2.SCORPIONS 2nd innings (target: 149)C. Walton c Cornwall b Tonge 8S. Thomas lbw b Joseph 6J. Blackwood c wkp. Otto b Joseph 47A. McCarthy b Joseph 0B. King lbw b Louis 17D. Thomas c Campbell b Louis 0R. Powell b Louis 1D Jacobs b Louis 1J. Taylor c Carty b Joseph 19M. Mindley c wkp. Otto b Joseph 1N. Miller not out 8Extras: (b-2, w-1, nb-3) 6Total: (all out, 37.5 overs) 114Fall of wickets: 1-15, 2-15, 3-15, 4-42, 5-44, 6-50, 7-67, 8-104, 9-105.Bowling: Tonge 8-1-29-1 (nb-1), Joseph 15.5-1-43-5 (nb-2), Louis 9-2-23-4 (w-1), Cornwall 5-1-17-0.Points: Hurricanes 19, Scorpions 5.6.
The final Asian qualifying place for the women’s soccer tournament at the Tokyo Olympics is set to be decided in February.The Asian Football Confederation says the postponed two-leg series between China and South Korea will be played Feb. 19 and 24. No venues for the games were announced.The games were previously postponed because of the coronavirus outbreak. The 2020 Tokyo Olympics have been postponed for one year.The 12-team women’s tournament is scheduled to start in Japan ahead of the Olympic opening ceremony on July 23, 2021.___ Associated Press Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___Premier League clubs have voted unanimously to resume contact training in the latest step toward restarting the soccer season amid the coronavirus pandemic. May 27, 2020 More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6 The league says players are now able to train as a group and “engage in tackling while minimizing any unnecessary close contact.”Play has been suspended in the world’s richest league since March 13.The league says “discussions are ongoing as work continues toward resuming the season.”Players returned to training last week and have been practicing in small groups with social distancing maintained.___ The Latest: Premier league clubs vote for contact training
SYDNEY, Australia (Reuters) – Australia’s hopes of retaining the Women’s Twenty20 World Cup in a blockbuster final on Sunday could fall foul of the Sydney weather, with heavy rain threatening to wash out today’s semi-finals.A shock loss to India in their tournament opener means Australia finished second in Group A, so would be knocked out by Group B winners South Africa if their semi-final clash at Sydney Cricket Ground (SCG) was not completed.Unbeaten India take on England in the first of today’s semi-finals at the SCG and would progress to Sunday’s final at the Melbourne Cricket Ground (MCG) if a minimum of 10 overs a side were not possible because of the weather.Cricket Australia (CA) had spoken with the International Cricket Council (ICC) about the possibility of moving the matches to a reserve day, but had been told it was not possible under tournament rules, CA chief Kevin Roberts said.“It’s not part of the playing conditions and we respect that,” Roberts told Melbourne’s SEN radio yesterday.Stormy weather is forecast by the Bureau of Meteorology throughout today at the SCG, with the chance of rain in the evening when Australia are scheduled to take on the South Africans, ranging from 50% to 70%.The loss to the tournament of the four-time champions and hosts would be a major blow to hopes that Sunday’s final will attract a crowd in excess of 90 000 to the MCG.The hosts’ immediate priority is to fill the void created by all-rounder Ellyse Perry’s exit from the tournament with a hamstring injury.“We’ve got a few options that we’re looking at to replace Ellysse,” Australia captain Meg Lanning told reporters.“Obviously we can’t truly replace her, but we’ve got a number of different options to go with depending on the conditions.”South Africa are also fretting on the availability of all-rounder Marizanne Kapp, who suffered heart palpitation in Sunday’s match against Pakistan and skipped training. “A player’s health is more important than a game,” South Africa skipper Dane van Niekerk said.“Whatever decision is made I am confident other players would step up and make sure she is not missed too much.”India will be hoping to improve their dismal 0-5 tournament record against England in a rematch of the 2018 semi-final in Antigua. “After losing the last semi-final, as a team we realised that we have to work as a unit,” India captain Harmanpreet Kaur said.“We just need to keep doing the right things and just focus on the right things instead of worrying about the past.”
Nederlander Concerts has entered a deal with the Galen Center at the University Park Campus to book more concerts at the venue, according to the Los Angeles Times.Busy venue · The Galen Center has hosted events including concerts by Drake and Kendrick Lamar as well as its usual slate of sporting events. – Ralf Cheung | Daily TrojanThe deal came after the announcement that the Gibson Amphitheatre at Universal City will close in September to make way for a new Harry Potter attraction at Universal Studios.Nederlander Chief Executive Alex Hodges told the Los Angeles Times that the Galen Center would fulfill a need for indoor concert spaces previously provided by the Gibson Amphitheatre.“This gives us an indoor place for those shows that need to be indoors, and for winter months it gives us the opportunity to replace some of the shows that would be at Gibson on a 12-month basis,” Hodges said.Nederlander Concerts holds events at several venues in Los Angeles, including the Pantages Theatre and the Greek Theatre.The Galen Center, located at the southeast corner Figueroa Street and Jefferson Boulevard, can seat audiences 10,258 patrons. The arena has hosted the university’s home basketball and volleyball games, along with several large-scale events including the 2012 and 2013 Nickelodeon Kids’ Choice Awards, auditions for the third season of Fox’s The X-Factor and performances by Drake, Kendrick Lamar and A$AP Rocky.Businessman and university trustee Louis Galen and his wife, Helene, donated $50 million to enable the development of the Galen Center. Construction of the area and pavilion began in October 2004 and cost an estimated $147 million, according to the USC Trojan Athletic website. The Galen Center opened in October 2006 and hosted its first event, a women’s volleyball game between USC and Stanford University, on Oct. 12, 2006.Before the Galen Center was built, USC basketball games were played at several locations, including the Los Angeles Memorial Sports Arena and the Shrine Auditorium stage.