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What's Left Of Abraaj And How It Collapsed So Quickly: Quicktake

by bloomberg.com posted 2months ago 24 views
It took almost 16 years to build Abraaj Group into one of the most influential emerging-market investors and the Middle East’s biggest private equity dealmaker. The Dubai-based firm’s dramatic collapse took just four months. Suitors are now circling the company’s funds as liquidators seek to settle about $1 billion in debt. The problems for the buyout firm and its founder, Arif Naqvi, began in February with allegations that money in the company’s health fund had been misused. Naqvi and the company have denied wrongdoing and blamed unforeseen political and regulatory hurdles for a delay in deploying the money.