{"id":602671,"date":"2019-04-03T03:41:33","date_gmt":"2019-04-03T03:41:33","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/03\/abraaj-lps-vote-to-give-actis-the-right-to-manage-defunct-firms-sub-saharan-africa-asia-funds\/"},"modified":"2019-04-03T03:41:33","modified_gmt":"2019-04-03T03:41:33","slug":"abraaj-lps-vote-to-give-actis-the-right-to-manage-defunct-firms-sub-saharan-africa-asia-funds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/03\/abraaj-lps-vote-to-give-actis-the-right-to-manage-defunct-firms-sub-saharan-africa-asia-funds\/","title":{"rendered":"Abraaj LPs vote to give Actis the right to manage defunct firm\u2019s sub-Saharan Africa, Asia funds"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>M&A WATCH- Limited partners in Abraaj funds have reportedly voted in favor of giving Actis the right to manage the defunct PE firm\u2019s sub-Saharan Africa and Asia funds<\/b>, unidentified <a href=\"https:\/\/almalnews.com\/%D9%85%D8%B5%D8%A7%D8%AF%D8%B1-%D8%A3%D9%83%D8%AA%D9%8A%D8%B3-%D8%AA%D9%82%D8%AA%D8%B1%D8%A8-%D9%85%D9%86-%D8%B4%D8%B1%D8%A7%D8%A1-%D8%B5%D9%86%D8%A7%D8%AF%D9%8A%D9%82-%D8%A3%D8%A8\/\">sources tell Al Mal<\/a>. The vote is not the final step in handing over the funds, which remains contingent on a few pending procedures, the sources say. The story makes no mention of Abraaj\u2019s North African funds. The sub-Saharan Africa fund reportedly has USD 700 mn in assets under management, USD 400 mn of which are uninvested, while the Asia fund has around USD 200, according to the sources.<\/p>\n<p><b>Actis had reportedly made a USD 1 offer <\/b><a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/09\/pharos-adviser-on-sale-of-spinneys-actis-makes-usd-1-bn-offer-for-abraajs-assets\/\"><b>last September<\/b><\/a><b> to acquire \u201cthe bulk\u201d <\/b>of Abraaj\u2019s emerging market funds. Actis was up against Abu Dhabi Financial Group, as well as a consortium formed by Kuwait\u2019s Agility and New York-based Centerbridge Partners. Actis\u2019 current North African investments include LSE-traded, Cairo-headquartered consumer healthcare multinational IDH. Former portfolio companies include snackfoods giant Edita, fast-food chain Mo\u2019men, and halawa maker Rashidi El Mizan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A WATCH- Limited partners in Abraaj funds have reportedly voted in favor of giving Actis the right to manage the defunct PE firm\u2019s sub-Saharan Africa and Asia funds, unidentified sources tell Al Mal. The vote is not the final step in handing over the funds, which remains contingent on a few pending procedures, the sources [&hellip;]<\/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":[4991,922,72,758,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-602671","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-abraaj","tag-actis","tag-enterpriseam","tag-private-equity","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5b5dc6dd-4ebe-41fe-a322-bbcc473d8950","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[602666],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Abraaj LPs vote to give Actis the right to manage defunct firm\u2019s sub-Saharan Africa, Asia funds - 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\/04\/03\/abraaj-lps-vote-to-give-actis-the-right-to-manage-defunct-firms-sub-saharan-africa-asia-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abraaj LPs vote to give Actis the right to manage defunct firm\u2019s sub-Saharan Africa, Asia funds\" \/>\n<meta property=\"og:description\" content=\"M&amp;A WATCH- Limited partners in Abraaj funds have reportedly voted in favor of giving Actis the right to manage the defunct PE firm\u2019s sub-Saharan Africa and Asia funds, unidentified sources tell Al Mal. 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A document written by Abraaj\u2019s liquidators shows that the firm was removed from managing\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":596771,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder\/","url_meta":{"origin":602671,"position":1},"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 &quot;Speed Round&quot;","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":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":602671,"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 &quot;Speed Round&quot;","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":595042,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/15\/correction-actis-takeover-of-abraaj-africa-fund-ii-has-no-connection-with-cleopatra\/","url_meta":{"origin":602671,"position":3},"title":"CORRECTION- Actis takeover of Abraaj Africa Fund II has no connection with Cleopatra","author":"enterpriseam admin","date":"15 September 2019","format":false,"excerpt":"CORRECTION- Actis takeover of Abraaj Africa Fund II has no connection with Cleopatra: Private equity firm Actis\u2019 takeover of Abraaj Africa Fund II and Abraaj South East Asia Fund II last week will not impact the shareholder structure of Cleopatra Hospitals Group, as neither fund holds a stake in the\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":627053,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/18\/abu-dhabi-capital-management-makes-usd-55-mn-offer-for-abraaj-groups-assets\/","url_meta":{"origin":602671,"position":4},"title":"Abu Dhabi Capital Management makes USD 55 mn offer for Abraaj Group\u2019s assets","author":"enterpriseam admin","date":"18 July 2018","format":false,"excerpt":"Abu Dhabi Financial Group\u2019s Abu Dhabi Capital Management has made a USD 55 mn offer for Abraaj Group\u2019s assets, \u201cchallenging a bid from Cerberus Capital Management,\u201d sources told Bloomberg yesterday. The firm told Abraaj \u2014 which is liquidating and undergoing a court-ordered restructuring after allegations surfaced about the misallocation of\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":602671,"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. Al Mal\u2019s piece suggests that Pharos is the sell-side adviser on the sale. Spinney\u2019s CEO Mohanad Adly\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/602671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=602671"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/602671\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/602666"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=602671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=602671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=602671"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=602671"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=602671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}