Abraaj Group’s North Africa fund mulls splitting from parent company | ZAWYA MENA Edition

Abraaj Group’s North Africa fund mulls splitting from parent company | ZAWYA MENA Edition:

Abraaj Group’s deal makers are looking at splitting off the firm’s $375 million North Africa fund, potentially complicating efforts to sell its entire asset-management business, reported, The Wall Street Journal.

The North Africa fund’s team is asking liquidators of Abraaj, to consider ‘an amicable separation’ of the unit from the rest of the firm.

In their proposal, the North Africa deal makers said that the fund’s list of investors would remain in place and an advisory firm would be appointed to supervise the new setup as a ‘guardian’ and Ahmed Badreldin would continue to lead the North Africa investing team.