(MENAFN) Dubai's Abraaj Group has accepted a deal with Colony Capital Inc to sell its Latin America, Sub Saharan Africa, North Africa and Turkey Funds management business.
It comes after Abraaj had a conflict with four of its investors over the use of their money in a USD1 billion healthcare.
The US investment management firm is also set to manage other Abraaj group funds that are not being acquired for the group and all its stakeholders to have a "comprehensive global solution in place".
The other group funds were set to comprise of the USD1 billion healthcare fund, and some legacy funds of the private equity group.
MENAFN2106201800450000ID1097048233
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.