Tyson Fury poses with the world heavyweight belts he won after outscoring Wladimir Klitschko in November last year. Rolf Vennenbernd / EPA
Tyson Fury poses with the world heavyweight belts he won after outscoring Wladimir Klitschko in November last year. Rolf Vennenbernd / EPA

Abu Dhabi – or on board a yacht in Dubai – in the running to host Fury v Klitschko II



World heavyweight boxing champion Tyson Fury has said Abu Dhabi is on a shortlist of five destinations that could host his rematch with Wladimir Klitschko.

Fury, 27, achieved the previously unthinkable in November last year by defeating Klitschko in Germany to claim the WBA (Super), IBF, WBO, IBO and The Ring Heavyweight titles.

Klitschko immediately activated the rematch clause in the contract, and while there is no fixed date for the bout, Fury has revealed a list of countries and cities that are in the mix to hold the event.

Along with the UAE capital, Croke Park in Dublin, London’s Wembley Stadium, Qatar, and various locations in Germany are all options, according to Fury.

"There are five possible venues," he said in an interview with The Daily Telegraph. "I'm hoping it's not going to go back to Germany. I'd rather go to Abu Dhabi or Qatar than there."

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Another, more alternative offer that has been made, Fury claimed, came from Dubai and the chance to host the fight on a super yacht.

“We even had negotiations to have it on a cruise ship,” he said. “There was a Sheikh in Dubai who owned a yacht which would fit only 120 people on. He didn’t want to broadcast the fight anywhere and he said he could sell 120 tickets at $1 million (Dh3.67m) each, so that would have been $120m.

“He wanted to have an exclusive heavyweight championship of the world fight with no TV station, with just those 120 people watching. He didn’t say how much I would get, but I probably would have had the biggest half of the $120 million — so I was all for it. I don’t think it’s possible now, but it would have been an epic story.”

On the rematch itself, Fury is expecting a bigger challenge from Klitschko than the one he faced in November when he easily outpointed the Ukrainian.

“Klitschko has got a point to prove,” he said. “I think he is going to try and knock me out this time. Either he knocks me out or I knock him out. Simple. But there is nothing scheduled at all. And if anything is in the works, I don’t know about it.”

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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.”

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