Arif Naqvi, Founder of Abraaj Group/Reuters

Asset management

Abraaj fund investors hire Duff & Phelps to help recover money

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Tuesday 06, November 2018 BY KUDAKWASHE MUZORIWA

Abraaj was a $13.6 billion emerging market specialist with more than 200 investments.

Investors in one of Abraaj's Middle East and North Africa funds have hired New York-based Duff & Phelps in a bid to recover money owed by the embattled private equity company.

The fund is one of several were court-appointed liquidators Deloitte and PwC have yet to pick preferred bidders for management rights.

Duff & Phelps will seek to trace an estimated $33 million owed by Abraaj relating to the Infrastructure and Growth Capital Fund and to ensure a suitable manager is brought in to oversee it, the fund's net asset value was estimated at around $700 million.

Additionally, another advisory firm, Alvarez & Marsal has already been hired by investors in Abraaj Private Equity Fund IV to help recover an estimated $130 million owed by Abraaj relating to that fund, the fund's net asset value was also estimated at around $700 to $800 million, reported Reuters.

TAGS : Abraaj, Alvarez & Marsal, Duff & Phelps, PwC, Deloitte

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