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Abraaj Group, the Middle East buyout firm roiled by allegations of misused funds, is considering the sale of a stake in its fund management business to raise cash amid heightened regulatory scrutiny and the departure of key executives, according to people with knowledge of the matter.After an internal review concluded that money in its health fund hadn't been misused, Abraaj last month said founder Arif Naqvi was ceding control of the fund-management business.Abdel-Wadood declined to comment. He will be a nonexecutive member of the firm's investment committees, Abraaj's spokeswoman said, noting that the firm has a "deep bench" of leaders.The firm will again start making new investments from some of its funds as early as this week, some of the people said.
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