Liquidators overseeing Abraaj Group’s insolvency now estimate chief executive officer Arif Naqvi’s alleged theft to have cost the firm $385 million, an amount significantly more than what prosecutors claimed.
fund mismanagement
Latest in fund mismanagement
Abraaj Group
CEO of $1bn healthcare fund once managed by Abraaj resigns
Mismanagement of investor money in the healthcare fund ultimately led to the collapse of Abraaj last year in the world’s biggest private-equity insolvency case
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Abraaj Group
Struggling Abraaj gets 70% of Nigerian firm by converting loan
Abraaj is being restructured by liquidators in a bid to settle more than $1 billion of its debts through asset sales
Abraaj Group
Dubai bank said to win right to swap Abraaj debt for fund stakes
Noor Bank provided a $100m loan to the collapsed Abraaj Group, once one of the most high-profile private equity companies in the Middle East
Abraaj
Master of the turnaround: ADFG’s Jassim Alseddiqi
Abu Dhabi Financial Group founding CEO Jassim Alseddiqi on what it takes to succeed – no matter what the economic conditions
Abraaj
Abraaj fund unit that managed $14bn is said to get $1 bid
Abraaj’s liquidators are also getting offers for regional operations within the unit
Abraaj
Behind the spectacular demise of private equity firm Abraaj
Abraaj borrowed to fill the gaps when its main revenues didn’t cover operating costs and now owes creditors over $1 billion