Dubai: Colony Capital to purchase Abraaj's group funds businesses
(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.
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