Abraaj's stake in $1 bln healthcare fund to be split among other investors - sources | Reuters:
AlixPartners, the interim manager of Abraaj’s $1 billion healthcare fund, has decided to redistribute the troubled private equity firm’s stake in the fund to its other investors, sources familiar with the matter said.
The move reflects a desire by some of the fund’s other investors to sever ties with Dubai-based Abraaj ahead of TPG taking over the management of the fund, said the sources.
However, it has prompted local banks whose loans to Abraaj were secured against the stake in the fund to consider legal action against AlixPartners, as the decision leaves them facing the prospect of no returns, the sources added.
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