TPG in talks with Abraaj investors to manage healthcare fund assets -sources | Reuters:
"U.S. private equity firm TPG is in talks with investors in Abraaj’s healthcare fund to take over management of the assets of the $1 billion fund, which is embroiled in a scandal over alleged misuse of investor money, two sources familiar with the matter said.
These talks are separate from an ongoing sale process for Abraaj Investment Management Ltd (AIML), which has attracted bidders including Colony Northstar.
The talks come after Abraaj indicated it may step down as the manager of the fund following a dispute over how the Dubai-based private equity firm used the money of some of its investors, including the Bill & Melinda Gates Foundation and International Finance Corp (IFC), a member of World Bank Group."
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