Investors in the $1.6bn Abraaj Group fund have hired advisory firm Alvarez & Marsal to help recover money owed by the troubled Middle Eastern private equity firm.
The New York-based company will represent Abraaj Private Equity Fund IVs backers in talks with liquidators as they seek to recover more than $99 million owed by the Dubai-based buyout firm, people with knowledge of the matter told Bloomberg.
As reported by International Investment, court-appointed liquidators Deloitte and PricewaterhouseCoopers are trying to settle more than $1 billion of debt owed by Abraaj, once one of the most influential emerging-market investors until its demise this year.
Alvarez will also represent the fund if its elected to a liquidators committee for Abr…
Read the full article at: http://www.internationalinvestment.net/legal-services/1-6bn-abraaj-fund-investors-hire-advisers-to-help-recover-debt/