Monday 16 July 2018

Cerberus in pole position in Abraaj auction as Colony bid rejected | Financial Times

Cerberus in pole position in Abraaj auction as Colony bid rejected | Financial Times:

Cerberus Capital Management is expected to decide as early as this week whether to go ahead with a proposed investment in private equity group Abraaj’s funds platform, a person familiar with the matter said.

The US-based asset manager is in pole position to take an interest in the Dubai-based group after liquidators rejected Colony Capital’s bid to purchase some of Abraaj’s funds.

Cerberus, which in early June had been presented to creditors as a preferred bidder, is still deciding whether it is willing to incur the potential reputational damage from involvement with the Abraaj franchise.

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