A bad one for...

Gulf Business - - NEWS AND VIEWS -

Abraaj: The pri­vate eq­uity house was found to have po­ten­tial ir­reg­u­lar­i­ties in a $1bn health­care fund and one other ve­hi­cle, ac­cord­ing to re­ports. Bloomberg cited sources as con­firm­ing an au­dit sug­gested money was be­ing di­verted else­where. News of the au­dit prompted Abraaj to con­duct a re­view of its cor­po­rate struc­ture, cut staff, put a $6bn fund on hold and re­turn $3bn in com­mit­ments to in­vestors.

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