Abraaj fund investors hire Duff & Phelps to help recover money: sources | Reuters:
Investors in one of Abraaj’s Middle East and North Africa funds have hired New York-based Duff & Phelps in an effort to recover money owed by the stricken private equity company, say sources familiar with the matter.
The advisory firm will seek to trace an estimated $33 million owed by Abraaj relating to the Infrastructure and Growth Capital Fund and to ensure a suitable manager is brought in to oversee it, the sources said. The fund’s net asset value was estimated at around $700 million, one of the sources added.
The fund is one of several where court-appointed liquidators Deloitte and PwC have yet to pick preferred bidders for management rights.
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