Colony Capital To Buy Some Of Abraaj's Key Funds | Cpi Financial News | Banking And Financial News,islamic Business And Finance, Commercial Banking
Staff in eight offices will be transferred as part of the agreement. : Colony Capital Inc. agreed to buy some of Abraaj’s key funds and oversee others as the Dubai-based private equity firm attempts a court-supervised restructuring amid allegations of misused funds. The US asset manager reached an initial agreement to acquire Abraaj’s Latin America, sub-Saharan Africa, North Africa and Turkey funds management business, as well as its limited partnership interests in the underlying funds, Abraaj said in an emailed statement without mentioning the value of the deal. Staff in eight offices will be transferred as part of the agreement.