Abraaj Investor Hamilton Lane Among Several Warned About Fund - Bloomberg:
Five months before the events that led to the collapse of Abraaj Group, the biggest in private equity history, one of the firm’s investors was warned about putting more money in, according to an email chain reviewed by Bloomberg News.
At least two senior executives of Hamilton Lane Inc. received an anonymous email in September 2017 advising them not to invest in a planned Abraaj global emerging-markets fund, the emails show. The warning was also sent to several other institutions that were potential investors in the fund, said a person with knowledge of the matter, who asked not to be identified because it is private.
The email, with the subject line “Abraaj Fund 6 Warning,” alleged that the buyout firm was overvaluing holdings to falsely suggest they were profitable and to boost its track record. In addition, the email claimed, most of the deals in the pipeline for the planned fund-raising were “dead” and Abraaj knew it.
No comments:
Post a Comment