Abraaj Group’s deal makers are looking at splitting off the firm’s $375 million North Africa fund, potentially complicating efforts to sell its entire asset-management business, reported, The Wall Street Journal.

The North Africa fund’s team is asking liquidators of Abraaj, to consider ‘an amicable separation’ of the unit from the rest of the firm.

In their proposal, the North Africa deal makers said that the fund’s list of investors would remain in place and an advisory firm would be appointed to supervise the new setup as a ‘guardian’ and Ahmed Badreldin would continue to lead the North Africa investing team.

The private equity firm raised the North Africa investment vehicle was established in 2015 to invest in midsize companies in Algeria, Egypt as well as Morocco and Tunisia. The investors in the fund include the European Investment Bank (EIB) and a unit of the World Bank Group.

 

© 2018 CPI Financial. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.