Colony Capital’s Abraaj deal faces investor resistance –sources [Reuters]
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Source: Reuters
Colony Capital’s Abraaj deal faces investor resistance –sources | Reuters 3 Min Read DUBAI, July 5 (Reuters) - U.S. investment manager Colony Capital’s deal to take control of four funds belonging to Dubai-based Abraaj is encountering investor resistance, four sources familiar with the matter said, piling further pressure on the embattled Middle East buyout firm. Colony’s offer last month to buy the fund management business that runs Abraaj’s Latin America, Sub Saharan Africa, North Africa and Turkey funds followed months of turmoil caused by a dispute between Abraaj and four investors over the use of their money in a $1 billion healthcare fund. Abraaj denies any wrongdoing but the dispute has weighed heavily on what is the largest private equity firm in the Middle East and Africa. Having managed almost $14 billion in assets at its peak, Abraaj filed for provisional liquidation in the Cayman Islands last month. Colony’s proposed deal in its original form could be put aside because of
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