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DFSA fines two Abraaj firms $315m for wrongdoingThe Dubai Financial Services Authority (DFSA) has today (July 30) imposed penalties of $299.3 million and $15.27 million on Abraaj Investment Management Limited (AIML) and Abraaj Capital Limited (ACLD), respectively, for carrying out unauthorise More… |
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Abraaj head, managing partner arrested over US fraud chargesDubai-based Abraaj Group's founder Arif Naqvi and his managing partner Mustafa Abdel-Wadood have been arrested after American prosecutors requested his detention on charges that they defrauded their investors, including the Bill & Meli More… |
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Naqvi cheque bounce case adjourned to Aug 28A court in Sharjah, UAE, has adjourned the hearing of a cheque bounce case against Arif Naqvi, founder of the private equity firm Abraaj, to tomorrow (August 28), reports said. This is second such case against More… |
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Abraaj founder faces fresh criminal case over $300m loanArif Naqvi, the founder of Dubai investment group Abraaj, has been hit with another criminal case in the UAE for allegedly issuing a $217-million cheque with insufficient funds, as the private equity group struggles to effect a court-driven rest More… |
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Abraaj founder faces fresh criminal case over $300m loanArif Naqvi, the founder of Dubai investment group Abraaj, has been hit with another criminal case in the UAE for allegedly issuing a $217-million cheque with insufficient funds, as the private equity group struggles to effect a court-driven rest More… |
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Six firms in race to run Abraaj's health fund: reportAt least six firms including Colony Capital, TPG and Cerberus Capital Management are vying to run troubled Abraaj Group’s $1 billion healthcare fund, a More… |
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Abraaj agrees to sell 4 major market funds to US groupAbraaj Holdings along with its unit Abraaj Investment Management Limited (AIML) has reached an agreement with Colony Capital, a leading global real estate and investment management firm, on the sale of four of its leading emerging markets funds More… |
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Abraaj agrees to sell 4 major market funds to US groupAbraaj Holdings along with its unit Abraaj Investment Management Limited (AIML) has reached an agreement with Colony Capital, a leading global real estate and investment management firm, on the sale of four of its leading emerging markets funds More… |
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Crisis-hit Abraaj sells Orascom Construction stake for $52mDubai-based Abraaj Group has sold its entire stake in Egypt’s Orascom Construction for $52 million as the private equity firm seeks to restructure amid allegations of misused funds, reported Bloomberg. Abraaj has been und More… |
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Air Arabia shares hit on exposure to Abraaj fundsSharjah-based lowcost carrier Air Arabia swung between gains and losses after the airline disclosed exposure to funds managed by Abraaj Group, the Dubai-based private equity firm that’s battling creditors, said a report. The More… |
