Abraaj had been the largest buyout fund in the Middle East and North Africa until it collapsed in mid-2018 after investors, including the Bill & Melinda Gates Foundation, raised concerns about the management of its $1 billion healthcare fund.
Correspondingly, what is abraaj scandal?
What is this unfamous Abraaj case? The Dubai Financial Services Authority fined two Abraaj Group companies a combined $315 million for deceiving investors and misappropriating funds. Problems began in February 2018 with allegations that money in Abraaj’s health fund had been misused.
Beside this, what private equity companies do?
The purpose of private equity firms is to provide the investors with profit, usually within 4-7 years. It comprises companies or investment managers that acquire capital from wealthy investors to invest in existing or new companies.
How do I set up a hedge fund in Dubai?
When starting a hedge fund in the UAE, the DIFC region, the investors will also need to appoint a licensed fund manager that has been approved by the authority appointed to regulate the activity of financial companies registered here (Dubai Financial and Services Authority).
What does abraaj mean?
Abraaj. the arabic plural of “burg” or “tower” ????? ???????.