An investment firm linked to Abu Dhabi’s royal family is embroiled in a nasty fight with a U.S. private equity shop that claims the Abu Dhabi firm defaulted on its capital commitments and forfeited a more than $20 million investment.
Emirates International Investment Company has initiated an arbitration proceeding against ECP MENA Growth Fund, a poorly performing fund of $1.8 billion Washington D.C. private equity firm Emerging Capital Partners, and claimed in a recently filed lawsuit that ECP has invoked a “draconian interpretation of the default provisions as a retaliatory measure to cause maximum financial harm.”
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