Abraaj Fund Investors Claim They Are Owed At Least $300M | Cpi Financial News | Banking And Financial News,islamic Business And Finance, Commercial Banking
They also ask to remove the company as manager. : Investors in a $1.6 billion-Abraaj Group fund said they are owed at least $300 million by the floundering Middle Eastern private equity firm, according to a letter seen by Bloomberg News. They also ask to remove the company as manager. The estimate of what is owed to Private Equity Fund IV by Abraaj is nearly triple the $94.6 million found after a review by Abraaj’s accounting firm Deloitte LLP in June.