Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Colony Capital Inc. agreed to buy some of Abraaj Group's key funds and oversee others as the Dubai-based private-equity firm attempts a court-supervised restructuring amid allegations of misused funds.The U.S. asset manager reached an initial agreement to acquire Abraaj's Latin American, sub-Saharan African, North African and Turkish fund-management businesses, as well as its limited-partnership interests in the underlying funds, Abraaj said in an emailed statement. The funds acquired by Colony Capital include the Abraaj Africa Fund III, which has assets of $990 million, the Abraaj North Africa Fund II with assets of $375 million, the Abraaj Turkey Fund I with $526 million and the Abraaj Latin America Fund II, which has assets of $545 million, according to an Abraaj Group spokeswoman.
FOLLOW THIS ARTICLE