Abraaj group news
Abraaj Group is a private equity firm that focuses on investing in emerging markets, particularly in the Middle East, North Africa, and South Asia. Here are some recent news articles and updates about Abraaj Group:
Recent News:
- Abraaj Group's Founder Arrested: In June 2020, Abraaj Group's founder and CEO, Arif Naqvi, was arrested in London on charges of fraud and money laundering related to the misuse of funds from the firm's healthcare fund. (Source: Bloomberg)
- Abraaj Group's Assets Under Management (AUM) Decline: In 2020, Abraaj Group's AUM declined by 25% to $1.1 billion due to the impact of the COVID-19 pandemic and the firm's financial struggles. (Source: Private Equity International)
- Abraaj Group's Restructuring Efforts: In 2020, Abraaj Group announced plans to restructure its business and reduce its debt. The firm has been working with its lenders to restructure its debt and has received approval from its creditors to implement a debt-for-equity swap. (Source: The Financial Times)
- Abraaj Group's Investment Portfolio: Abraaj Group has a diverse investment portfolio across various sectors, including healthcare, education, and financial services. The firm has invested in companies such as Egypt's Orascom Healthcare, Pakistan's Habib Bank, and India's Apollo Hospitals. (Source: Abraaj Group's website)
Recent Updates:
- Abraaj Group's New CEO: In 2020, Abraaj Group appointed a new CEO, Mustafa Abdel-Wadood, who has been tasked with leading the firm's restructuring efforts and rebuilding its business. (Source: Private Equity International)
- Abraaj Group's New Investment Strategy: In 2020, Abraaj Group announced a new investment strategy focused on investing in companies that have a positive impact on society and the environment. The firm has launched a new impact investing platform to support this strategy. (Source: Abraaj Group's website)
- Abraaj Group's Partnerships: Abraaj Group has partnered with various organizations, including the World Bank, the International Finance Corporation, and the United Nations Development Programme, to support its investment activities and promote sustainable development in emerging markets. (Source: Abraaj Group's website)
I hope this information is helpful!