{"id":594966,"date":"2019-09-12T03:44:27","date_gmt":"2019-09-12T03:44:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/12\/actis-takes-over-two-more-abraaj-buyout-funds-in-africa-and-southeast-asia\/"},"modified":"2019-09-12T03:44:27","modified_gmt":"2019-09-12T03:44:27","slug":"actis-takes-over-two-more-abraaj-buyout-funds-in-africa-and-southeast-asia","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/12\/actis-takes-over-two-more-abraaj-buyout-funds-in-africa-and-southeast-asia\/","title":{"rendered":"Actis takes over two more Abraaj buyout funds in Africa and Southeast Asia"},"content":{"rendered":"

<\/a> Actis takes over two more Abraaj buyout funds:<\/b> Actis has reached an agreement to take over the management of two more buyout funds raised by defunct private equity giant Abraaj, according to the Wall Street Journal<\/a>. A document written by Abraaj\u2019s liquidators shows that the firm was removed from managing Abraaj Africa Fund II and Abraaj South East Asia Fund II in late July and was replaced by Actis. This has seen the Actis acquire a portfolio of companies in Africa and Southeast Asia \u2014 including logistics company Ninja Van, which operates in countries including Singapore, Malaysia and Indonesia. Deloitte Touche Tohmatsu \u2014 one the fund\u2019s liquidators \u2014 have tried to sell parts of its management arm to clear some of its USD 1 bn debt pile. Abraaj managed more than USD 14 bn across more than 40 funds at the peak of its powers, making it the largest EM private equity firm in the world.<\/p>\n

Background:<\/b> Actis acquired USD 2.6 bn of assets in July when it took over<\/a> Abraaj\u2019s Private Equity Fund IV (APEF IV) and Africa fund III (AAF III), bringing the total value of its asset portfolio to USD 12 bn. Abraaj collapsed last year when investors in its USD 1 bn health-care fund claimed that the firm had mismanaged<\/a> some of their money. Abraaj founder Arif Naqvi and other senior executives now face criminal charges including racketeering and fraud from US prosecutors. The Dubai Financial Services Authority (DFSA) issued a USD 315 mn fine last month<\/a> for \u201cserious wrongdoing\u201d and misuse of investor funds.<\/p>\n

Corrected on 12 September 2019\u00a0<\/em><\/p>\n

Abraaj Africa Fund II holds no stake in Cleopatra Hospital Group. The Actis-managed Abraaj Private Equity Fund IV (APEF IV) holds an indirect stake in Cleopatra Hospitals through Care Healthcare. The Abraaj North Africa Fund II (ANAF II), currently managed by RMBV, also holds an indirect stake in\u00a0 Cleopatra Hospital Group through Care Healthcare.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Actis takes over two more Abraaj buyout funds: Actis has reached an agreement to take over the management of two more buyout funds raised by defunct private equity giant Abraaj, according to the Wall Street Journal. A document written by Abraaj\u2019s liquidators shows that the firm was removed from managing Abraaj Africa Fund II and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[4991,922,7098,11123,11121,192,11124,115,72,11125,11122,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-594966","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-abraaj","tag-actis","tag-africa","tag-breakup","tag-buyout-funds","tag-cleopatra-hospitals-group","tag-deloitte-touche-tohmatsu","tag-emerging-markets","tag-enterpriseam","tag-ninja-van","tag-southeast-asia","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"55172405-ea96-4e8a-9b50-f3d42254eafb","is_powered_by":true,"section_story_id":"a024cbca-8eac-4185-9147-ef7daee14b7e","story_type":"1","photo_url":"","photo_position":"above","related_issue":[594957],"teaser":"","voice_url":""},"yoast_head":"\nActis takes over two more Abraaj buyout funds in Africa and Southeast Asia - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/12\/actis-takes-over-two-more-abraaj-buyout-funds-in-africa-and-southeast-asia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Actis takes over two more Abraaj buyout funds in Africa and Southeast Asia\" \/>\n<meta property=\"og:description\" content=\"Actis takes over two more Abraaj buyout funds: Actis has reached an agreement to take over the management of two more buyout funds raised by defunct private equity giant Abraaj, according to the Wall Street Journal. 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The vote is not the final step in handing over the funds, which remains contingent on a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597086,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/its-official-actis-takes-over-management-of-apef-iv-and-aaf-iii-funds-from-abraaj\/","url_meta":{"origin":594966,"position":2},"title":"It\u2019s official \u2014 Actis takes over management of APEF IV and AAF III funds from Abraaj","author":"enterpriseam admin","date":"16 July 2019","format":false,"excerpt":"It\u2019s official \u2014 Actis takes over management of APEF IV and AAF III funds from Abraaj: Emerging markets private equity giant Actis has officially taken over the management of the Abraaj Private Equity Fund IV (APEF IV) and Abraaj Africa fund III (AAF III) in a landmark transaction for PE\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/367.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596771,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder\/","url_meta":{"origin":594966,"position":3},"title":"Actis gets approval to take over management of CHG\u2019s majority shareholder","author":"enterpriseam admin","date":"8 July 2019","format":false,"excerpt":"M&A WATCH- Actis gets regulatory approval to manage Cleopatra Hospital\u2019s majority shareholder: EM private equity fund Actis received approval from the Financial Regulatory Authority (FRA) to take over the management of Creed Healthcare Holdco from now-defunct EM private equity giant Abraaj, Al Mal reported, citing unnamed sources. Creed Healthcare, also\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/1552.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":626940,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/16\/actis-looks-to-buy-abraaj-groups-95-stake-in-nahda-university\/","url_meta":{"origin":594966,"position":4},"title":"Actis looks to buy Abraaj Group\u2019s 95% stake in Nahda University","author":"enterpriseam admin","date":"16 July 2018","format":false,"excerpt":"M&A WATCH- Global private equity firm Actis is reportedly in early talks to acquire Abraaj Group\u2019s 95% stake in Nahda University, sources close to the matter tell Al Mal. The transaction would not be finalized until after Abraaj completes its court ordered restructuring and liquidation, as decision-making at the UAE-headquartered\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624420,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/pharos-adviser-on-sale-of-spinneys-actis-makes-usd-1-offer-for-abraajs-assets\/","url_meta":{"origin":594966,"position":5},"title":"Pharos adviser on sale of Spinney\u2019s, Actis makes USD 1 offer for Abraaj\u2019s assets","author":"enterpriseam admin","date":"9 September 2018","format":false,"excerpt":"**#7 M&A WATCH- Pharos said to be advising on Spinney\u2019s sale: Our friends at Pharos Holdings are reportedly the advisers on the sale of Spinney\u2019s by majority owner Abraaj, according to Al Mal. 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