Aloe Blacc's latest hit single is called The Man, and the California soul singer is definitely living up to the title with a successful album, arena tours and for being the voice of arguably last year's biggest single, the bluegrass meets dance stomper that is Wake Me Up.
The 35-year-old is taking all the attention in stride. Speaking before tonight’s performance at Dubai Media City Amphitheatre as part of the inaugural Blended festival, Blacc is satisfied that success came after 10 years of being in the industry.
“It’s better this way,” he says. “I got the chance to grow older and learn about the business. It also gave me the chance to refine my character as a person in order to understand why I do what I do.”
The last time you were in the UAE was in 2012, performing club shows in Abu Dhabi and Dubai. Now you’re headlining festivals and performing in arenas. How has the change been for you?
Indeed, a lot of things have changed since then. I had a great time in Abu Dhabi and Dubai on that occasion and since then my career went through lots of changes and, of course, the song I did with Avicii, Wake Me Up, became so successful that it made a huge difference in my career.
Before Wake Me Up you also scored a global hit with the 2010 single I Need a Dollar. What’s the fame like this time around?
It is a different feeling in the sense that Wake Me Up is Avicii's song. I Need a Dollar was different in that this was my song and people were requesting that from me.
Did the success of Wake Me Up influence the direction of your new album Lift Your Spirit?
I was already in the studio working on songs for my album when I worked with Avicii and Mike Einziger (the co-songwriter and guitarist for Incubus) on Wake Me Up. That song became successful because it spoke to everybody. It also has that feeling of nostalgia that everyone could relate to. That was also my goal with Lift Your Spirit, to create music that could really inspire people – and I was able to do that.
What made you take on a more positive attitude with this new album?
I would say that I was just in a happier place than on the first album, Good Things. I wanted to create an album that was different; the last album was very political and wasn't as happy and bright. I wanted Lift Your Spirit to sound positive so that when you hear it, you can feel joy.
Lift Your Spirit has a stripped-down acoustic version of Wake Me Up. Were you concerned people would be sick of it by now?
When we first recorded that song it was only vocals and guitar. I always wanted my fans to hear that acoustic version of the song, so when it came to my album I added that in there. I think my version is about the songwriting, it is about the lyrics and the melody without so much depending on the dance music and the style.
This time around you’re coming to Dubai with a band. What’s the full-band experience like?
It’s going to be very exciting with lots of energy. One thing that I like to do in my live shows is that I want them to be inclusive. I want the audience to be singing and dancing along with me.
Now that you’re back in the UAE, any experiences you want to try again?
My favourite experience was the dune bashing. That was really fun and I am telling the band who are coming with me that they gotta do that.
• Aloe Blacc performs tomorrow as part of day one of Blended, which also features Xavier Rudd and Joss Stone. On Friday, Elvis Costello will perform with Diana Krall. Day tickets start at Dh350 from www.timeouttickets.com
[ sasaeed@thenational.ae ]
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.”
When Umm Kulthum performed in Abu Dhabi
Known as The Lady of Arabic Song, Umm Kulthum performed in Abu Dhabi on November 28, 1971, as part of celebrations for the fifth anniversary of the accession of Sheikh Zayed bin Sultan Al Nahyan as Ruler of Abu Dhabi. A concert hall was constructed for the event on land that is now Al Nahyan Stadium, behind Al Wahda Mall. The audience were treated to many of Kulthum's most well-known songs as part of the sold-out show, including Aghadan Alqak and Enta Omri.
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COMPANY PROFILE
Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside
COMPANY PROFILE
Name: Ejari
Based: Riyadh, Saudi Arabia
Founders: Yazeed Al Shamsi, Fahad Albedah, Mohammed Alkhelewy and Khalid Almunif
Sector: PropTech
Total funding: $1 million
Investors: Sanabil 500 Mena, Hambro Perks' Oryx Fund and angel investors
Number of employees: 8
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Featherweight 4 rounds:
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Developer: Pillow Castle Games
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Company Profile
Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices
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COMPANY PROFILE
Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)
Starring: Jamie Foxx, Angela Bassett, Tina Fey
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Company profile
Company name:+Dharma
Date started:+2018
Founders:+Charaf El Mansouri, Nisma Benani, Leah Howe
Based:+Abu Dhabi
Sector:+TravelTech
Funding stage:+Pre-series A
Investors:+Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs
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