Abraaj said to be raising USD 5-8 bn this year

Emerging markets private equity giant Abraaj Group is planning to raise USD 5-8 bn from investors in 2017 to create its largest fund, sources told Bloomberg. Abraaj is planning to raise the money from a pool of regional and international investors by the end of 2017 the source said, adding that the plans are in early stages and the size of the fund could fluctuate. CEO Arif Naqvi had said Abraaj is “raising an investment fund this year that will have a global focus as the company seeks opportunities in defensive industries such as health care and education” but did not provide details.