• Charles Oliveira celebrates after his submission victory over Justin Gaethje in their lightweight championship bout at UFC 274 at Footprint Center on May 07, 2022 in Phoenix, Arizona. Getty
    Charles Oliveira celebrates after his submission victory over Justin Gaethje in their lightweight championship bout at UFC 274 at Footprint Center on May 07, 2022 in Phoenix, Arizona. Getty
  • Charles Oliveira celebrates after his submission victory over Justin Gaethje at UFC 274. AFP
    Charles Oliveira celebrates after his submission victory over Justin Gaethje at UFC 274. AFP
  • Charles Oliveira has his arm raised in victory after beating Justin Gaethje at UFC 274. Getty
    Charles Oliveira has his arm raised in victory after beating Justin Gaethje at UFC 274. Getty
  • Charles Oliveira and Justin Gaethje fight during their lightweight bout at UFC 274. Reuters
    Charles Oliveira and Justin Gaethje fight during their lightweight bout at UFC 274. Reuters
  • Charles Oliveira applies a hold for the submission victory against Justin Gaethje at UFC 274. Reuters
    Charles Oliveira applies a hold for the submission victory against Justin Gaethje at UFC 274. Reuters
  • Charles Oliveira applies a hold against Justin Gaethje at UFC 274. Reuters
    Charles Oliveira applies a hold against Justin Gaethje at UFC 274. Reuters
  • Charles Oliveira throws a punch at Justin Gaethje during their fight at UFC 274. Reuters
    Charles Oliveira throws a punch at Justin Gaethje during their fight at UFC 274. Reuters
  • Rose Namajunas kicks Carla Esparza in their women’s strawweight championship bout at UFC 274. Getty
    Rose Namajunas kicks Carla Esparza in their women’s strawweight championship bout at UFC 274. Getty
  • Rose Namajunas throws a right on Carla Esparza in their women’s strawweight championship bout at UFC 274. Getty
    Rose Namajunas throws a right on Carla Esparza in their women’s strawweight championship bout at UFC 274. Getty
  • Rose Namajunas and Carla Esparza fight in their women’s strawweight championship bout at UFC 274. Getty
    Rose Namajunas and Carla Esparza fight in their women’s strawweight championship bout at UFC 274. Getty
  • Carla Esparza celebrates after her victory over Rose Namajunas at UFC 274. Getty
    Carla Esparza celebrates after her victory over Rose Namajunas at UFC 274. Getty
  • Carla Esparza reacts to her championship victory against Rose Namajunas at UFC 274. Reuters
    Carla Esparza reacts to her championship victory against Rose Namajunas at UFC 274. Reuters
  • Michael Chandler is declared the winner by knockout against Tony Ferguson at UFC 274. Reuters
    Michael Chandler is declared the winner by knockout against Tony Ferguson at UFC 274. Reuters
  • Michael Chandler celebrates his knockout victory against Tony Ferguson at UFC 274. Reuters
    Michael Chandler celebrates his knockout victory against Tony Ferguson at UFC 274. Reuters
  • Michael Chandler fights against Tony Ferguson at UFC 274. Reuters
    Michael Chandler fights against Tony Ferguson at UFC 274. Reuters
  • Michael Chandler kicks Tony Ferguson for the knockout at UFC 274. Reuters
    Michael Chandler kicks Tony Ferguson for the knockout at UFC 274. Reuters

Islam Makhachev calls for UFC lightweight title bout with Charles Oliveira in Abu Dhabi


John McAuley
  • English
  • Arabic

Islam Makhachev has called for a lightweight title bout with Charles Oliveira in Abu Dhabi later this year after the Brazilian defeated Justin Gaethje in spectacular fashion at UFC 274 early on Sunday.

Oliveira, who was stripped of the belt having missed weight on Friday, rebounded with a scintillating win in the headline event at the Footprint Center in Phoenix, Arizona, triumphing by first-round submission. The victory, coming after both fighters had been knocked down during a frantic opening three minutes, extended Oliveira’s win streak to 11.

Having missed the 155lb weight limit by half a pound, Oliveira had to vacate the title, although the UFC said he would be immediately installed as the No 1-ranked contender should he deliver a victory on Sunday.

Following Oliveira’s win, No 3-ranked challenger Makhachev made his feelings clear on what he wanted to happen next, tweeting: “Congrats Charles and see you in Abu Dhabi for the vacant [title].”

The world’s lead mixed martial arts promotion is booked to return to the capital on October 22 with UFC 281 at Etihad Arena. The card had yet to be confirmed.

Khabib Nurmagomedov, the former lightweight champion who retired undefeated and now coaches Makhachev, also called for his long-time teammate to take on Oliveira.

Having already tweeted in his native Russian, Nurmagomedov then posted in English directly to UFC president Dana White, saying: “You have no other choice but make Oliveira vs Islam fight in Abu Dhabi 22 October. Perfect date, perfect location. Perfect opponents with perfect winning streaks 10 vs 11.”

At the post-event press conference, UFC president Dana White was asked if he wanted to make the cancelled bout between Makhachev and Beneil Dariush next. That fight, which pits against one another the No 3- and No 4-ranked challengers at lightweight, was postponed in February following an injury to Dariush.

“I do,” White said. “But [commentator] Joe Rogan just grabbed me in the hallway and told me not to.”

White did say, however, that the winner of the potential Makhachev-Dariush encounter would determine the No 1-contender spot. When pressed again later on that match-up, White said: “When I get up here after a fight like tonight I’m not even thinking of that stuff. I don’t know tonight.

"But I’ll give you this, I’ll be honest with you: I get it. Listen, who doesn’t want to see Dariush and Islam? It’s a great fight, it’s a killer fight. I would love to see that fight to see who the No 1 contender is.

“But I’m not going to lie: after tonight, I wouldn’t mind doing Islam versus Oliveira either. We’ll see what happens. We’ll get in the [UFC matchmaker meeting] and argue about it and figure it out.”

Makhachev, who in February defeated Dariush replacement Bobby Green by first-round TKO in Las Vegas, had told The National in the build-up to that fight: “I’m going to tell the UFC and Dana and everybody that, ‘Hey, this is my 10-fight win streak. I deserve the title fight’. I’m going to be in Abu Dhabi, waiting for the champion there.”

Speaking afterwards, the Dagestani reiterated: “I want to fight in Abu Dhabi. Because I have many of my friends, my friends who stay outside because they cannot come to the [UFC] Apex [in Las Vegas]. I want to fight for the title in Abu Dhabi when all my fans can come and support me inside.”

Makhachev, 30, has competed in the emirate twice previously, sealing victory against Davi Ramos by unanimous decision at UFC 242 in September 2019 before defeating Dan Hooker by first-round submission at UFC 267 last October. His solitary loss in 23 professional MMA bouts was almost seven years ago.

Oliveira, though, appears to have other plans to taking on Makhachev next, with the stripped champion calling out former two-division title-holder Conor McGregor. Oliveira said also that he wants his next UFC bout to take place in Brazil.

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: May 08, 2022, 9:59 AM