US hostage envoy Adam Boehler speaks during an event in Washington. AFP
US hostage envoy Adam Boehler speaks during an event in Washington. AFP
US hostage envoy Adam Boehler speaks during an event in Washington. AFP
US hostage envoy Adam Boehler speaks during an event in Washington. AFP

Deal for release of American hostages in Gaza ‘real close’, US envoy says


Sara Ruthven
  • English
  • Arabic

A deal for the release of the remaining American hostages in Gaza is "real close" and could come together within weeks, the US hostage envoy said on Sunday.

Adam Boehler told CNN that at least one American hostage is still alive in Gaza, and Hamas is also holding the bodies of four others. He added that an agreement on a long-term truce was also a possibility.

"I believe there is enough there to make a deal between what Hamas wants and what they've accepted and what Israel wants and it's accepted. And I think there is a deal where they can get all of the prisoners out, not just the Americans," he said.

Mr Boehler added he had decided to meet members of Hamas, which the US has designated as a terrorist organisation, to "jump-start" negotiations, which were in a "very fragile place".

"In the end, I think it was a very helpful meeting. It was very helpful to hear some back and forth," he said.

With regard to reports that he had a tense phone call with an Israeli official over the negotiations, Mr Boehler said he understood the concern but that: "We're the United States. We're not an agent of Israel. We have specific interests at play. And we did communicate back and forth. We had very specific parameters."

He did not rule out meeting representatives of Hamas in the future. "You never know. Sometimes you're in the area and you drop by."

Mr Boehler, a businessman who was part of negotiations on the Abraham Accords during Mr Trump's first term, was selected as the new hostage envoy in December. He has since been involved in Gaza hostage release talks, travelling to the Middle East to meet regional officials involved in negotiations.

“He has negotiated with some of the toughest people in the world, including the Taliban, but Adam knows that no one is tougher than the United States of America, at least when President Trump is its leader,” Mr Trump said in a Truth Social post. “Adam will work tirelessly to bring our great American citizens home.”

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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.”

Updated: March 09, 2025, 8:42 PM