Abraaj Group founder Arif Naqvi. Photo: Bloomberg
London/Dubai: Investors in a $1.6 billion Abraaj Group fund have hired advisory firm Alvarez and Marsal Holdings, LLC to help recover money owed by the floundering Middle-Eastern private equity firm, people with knowledge of the matter said. The New York-based company will represent Abraaj Private Equity Fund IVs backers in talks with liquidators as they seek to recover more than $99 million owed by the Dubai-based buyout firm, said the people, requesting anonymity.
The stakeholders have formed an investor committee led by Boston-based HarbourVest Partners, two of the people said.
Alvarez will also represent the fund if its elected to a liquidators committee for Abraaj Investment Management …