Actis picked to take over Abraaj's Africa funds -sources | Reuters:
Actis has been picked as the preferred bidder for the management rights of Abraaj’s Africa funds, sources familiar with the matter said, as liquidators begin breaking up the operations of what was once the Middle East’s largest private equity firm.
Among Abraaj’s other operations, Canada’s Brookfield Asset Management is in the frame to take over its Turkey fund, while United States-based Colony Capital its Latin America fund, two of the sources told Reuters.
Abraaj was a $13.6 billion emerging market specialist with more than 200 investments, but late last year four investors questioned its use of their money in a healthcare fund triggering a crisis at Abraaj and its provisional liquidation.
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