Deals
Abraaj Gets Closer to Selling Off Some of Its Funds
- Emerging-market investor started talks for 5 funds last year
- Dubai-based Abraaj managed $14 billion of assets at its peak
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Actis received investor approval to take over two funds managed by the collapsed Abraaj Group, clearing a major hurdle for the emerging-market investor to complete a deal, according to people familiar with the matter.
London-based Actis last week got the 75% of investor support required to take over the $1.6 billion Abraaj Private Equity Fund IV and the $990 million Africa Fund III, said the people, asking not to be identified because the matter is private. A final deal hasn’t been agreed and may take at least a few more weeks to complete, they said.