Buyout Firm Abraaj Said to Seek Up to $8 Billion for Global Fund

  • Abraaj to raise fund from international investors this year
  • Proceeds from fund to be deployed across emerging markets

Buyout firm Abraaj Group is planning to raise about $5 billion to $8 billion from investors this year, people familiar with the matter said, in what would be the emerging-market-focused investor’s largest fund.

The Dubai-based firm, which invests across markets from Asia to Latin America, is planning to raise the money from a pool of regional and international investors by the end of 2017, the people said, asking not to be identified as the information is private. The plans are in early stages and the size of the fund could fluctuate, they said.

An Abraaj spokeswoman declined to comment.

Abraaj, which manages about $10 billion in assets, is raising an investment fund this year that will have a global focus as the company seeks opportunities in defensive industries such as health care and education, Chief Executive Officer Arif Naqvi said in an interview in Davos earlier this month without providing additional details. The company has previously raised money for investments in specific geographies such as Sub-Saharan Africa or Latin America.

Private equity firms are raising billions of dollars in new money as investors focus more on alternative investments amid a low interest-rate environment. Apollo Global Management LLC is starting to raise money for a new buyout fund that could reach almost $20 billion in size, according to co-founder Josh Harris. Silver Lake is seeking $12.5 billion for its fifth main fund, targeting technology, people familiar with the plans said last month.

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