Some investors want new Abraaj review, potentially delaying key sale - document | Reuters

Some investors want new Abraaj review, potentially delaying key sale - document | Reuters:

Some investors in funds managed by Dubai-based Abraaj want to block the sale of assets to Colony Capital pending a review of Abraaj’s handling of funds, according to a report seen by Reuters, potentially delaying a deal key to the survival of the investment management business.

United States-based Colony offered last month to buy the fund management unit that runs Abraaj’s Latin America, Sub Saharan Africa, North Africa and Turkey funds after months of turmoil at Abraaj triggered by a dispute with investors over the use of their money in a $1 billion healthcare fund.

Abraaj denies any wrongdoing, but the row has weighed heavily on the Middle East and Africa’s largest private equity firm, which filed for provisional liquidation in the Cayman Islands last month.