Private Equity

Abraaj Fund Investors Hire Advisers To Help Recover Debt

by livemint.com posted 2years ago 114 views
Abraaj Group is undergoing an overhaul after it was found to have borrowed money without investors’ consent. : London/Dubai: Investors in a $1.6 billion Abraaj Group fund have hired advisory firm Alvarez and Marsal Holdings, LLC to help recover money owed by the floundering Middle-Eastern private equity firm, people with knowledge of the matter said. The New York-based company will represent Abraaj Private Equity Fund IV’s backers in talks with liquidators as they seek to recover more than $99 million owed by the Dubai-based buyout firm, said the people, requesting anonymity.