Investors bolster oversight in emerging-market private equity after Abraaj collapse - Reuters:
Investors in private equity funds that focus on emerging markets are tightening oversight after the collapse of a Middle East buyout firm, a survey has found.
Many investors said they planned to put more money into such funds over the next two years, but also to install extra checks and balances, suggested the survey by the Emerging Markets Private Equity Association (EMPEA).
Dubai-based Abraaj Capital Ltd had been the largest buyout fund in the Middle East and North Africa until it fell apart last year after a dispute with investors, including the Gates Foundation, over a $1 billion healthcare fund. Two of its top executives have been arrested.
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