What Led the Middle East's Top Dealmaker to Step Down - Bloomberg

What Led the Middle East's Top Dealmaker to Step Down - Bloomberg:

"The Middle East’s biggest private equity dealmaker is stepping aside under a cloud of controversy. Arif Naqvi ceded control of the fund-management unit of his Abraaj Group in February on the heels of allegations that money in the company’s health fund had been misused. Naqvi and the company denied any wrongdoing and blamed unforeseen political and regulatory hurdles for a delay in deploying the money. The fund, which invests in hospitals in some of the poorest countries in the world, is a model for replacing aid with accessible, affordable and quality health care using private financing.

1. What’s special about Abraaj?
The 400-person firm has grown to become one of the largest private equity groups in the emerging markets -- "growth markets," as Naqvi prefers to call them -- with $13.6 billion in assets under management. From its roots in the Middle East, Abraaj now invests in private equity, health care, clean energy, lending and real estate across Africa, Asia, Latin America and Turkey. According to its website, the firm’s $1 billion health-care fund focuses "on improving care in the fields of non-communicable disease and mother and child health in 10 cities, including Lagos, Hyderabad, Karachi, and Nairobi." The fund owns 24 hospitals, 17 clinics and 30 diagnostic clinics across India, Pakistan, Nigeria and Kenya with over 3,200 patient beds."



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