Abu Dhabi Financial Group offers revised bid for Abraaj's ME funds | Reuters

Abu Dhabi Financial Group offers revised bid for Abraaj's ME funds | Reuters:

Abu Dhabi Financial Group (ADFG) has submitted a revised bid to acquire the management rights for the Middle East funds of stricken Dubai-based Abraaj, according to a document seen by Reuters.

The Abu Dhabi-based alternative investment firm is among more than a dozen bidders seeking to buy the bulk of Abraaj’s private equity funds.

But in a letter to investors in Abraaj Funds, ADFG said that the bid is unlikely to materialize given the “convolution” of the situation.