Kuwait’s Agility and Centerbridge team up in Abraaj acquisition bid

Kuwait’s Agility and Centerbridge team up in Abraaj acquisition bid: Kuwait’s Agility took its intention to acquire part or all of beleaguered private equity firm Abraaj to the next level by teaming up with US-based Centerbridge Partners, sources told Reuters on Monday. The pair is reportedly interested in buying Abraaj’s investment management unit, with room to pick up another partner, sources added. Reuters had noted back in June that Agility is making a move to acquire parts of Abraaj, and is even setting up a team to manage the assets once it is acquired. Cerberus Capital Management had recently withdrawn its USD 25 mn offer to acquire the rights to manage the Abraaj Group’s assets after investors rejected the firm’s bid. Abu Dhabi Capital Management was said to have made a USD 55 mn offer for the right to run Abraaj’s assets.