Wealth Management

Actis assumes management of two Abraaj funds

Arif Naqvi, the former Chief Executive Officer of Abraaj Group/Luke Macgregor

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Abraaj Group, which filed for provisional liquidation in June 2018, was the largest buyout fund in MENA region until it collapsed last year in the aftermath of a row with investors over the use of money in a $1 billion healthcare fund.

Tuesday 16, July 2019 BY MUZORIWA KUDAKWASHE

Actis has acquired the rights to manage Abraaj Private Equity Fund IV and Abraaj Africa fund III, a global buyout fund and a fund for investment in sub-Saharan Africa respectively, in a deal aimed at strengthening its position in the Middle East and Africa.

In a statement, the private equity firm said that the transaction includes 14 portfolio companies and strengthens Actis’ existing market position and team in Africa and the Middle East.

Actis said that this transaction further bolsters its footprint in the emerging markets and follows the integration of Standard Chartered’s Principal Finance Real Estate business in Asia in 2018.

The private equity firm now has $12 billion assets under management and over 250 people across 16 offices.

The Actis transaction comes after the finalisation of two other Abraaj deals—the transfer of management of the $1 billion healthcare fund to US buyout fund TPG and the sale of Abraaj's Latin America fund to Colony Capital.

TAGS : Abraaj Group, Actis , Abraaj Private Equity Fund IV, Abraaj Africa fund III, Standard Chartered, Principal Finance Real Estate business , TPG , Colony Capital

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