Private Equity

Abraaj Fund Investors Hire Advisers To Help Recover Debt

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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.