Tag Archive for 'Abraaj'

Executive pleads guilty as collapse of $14bn Abraaj hits PE flows into Africa

The ongoing collapse of the giant Abraaj platform in the world’s biggest private-equity insolvency has hit flows into Africa-focused private-equity funds. Former Abraaj managing partner Mustafa Abdel-Wadood is cooperating with New York prosecutors after pleading guilty in a Manhattan court 2 weeks ago. He could face up to 125 years in prison. Abraaj was founded […]

Warning about “less orthodox” private equity debts

Private equity fund managers (general partners or GPs) are using money promised by investors (limited partners or LPs) as security to borrow from banks. The Economist magazine says, in a recent article on the Abraaj crisis, says investors are becoming “warier of private-equity firms’ less orthodox tactics”. The magazine says that GPs use these “subscription […]

Winners of Private Equity Africa awards 2013

At an excellent awards dinner in London this week, the winners of the Private Equity Africa awards 2013 were announced, from a hotly contested field.