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SocGen’s dispute with some Abraaj LPs over an unpaid facility could have far-reaching consequences for the fund finance industry.
Raj Morjaria is a partner at LGT Lightstone, the firm's impact unit, with responsibility for overseeing new funds and investments.
Colony Capital’s acquisition of the firm’s LatAm business is the most progressed of the sales processes underway for Abraaj funds, according to documents seen by PEI.
The founder submitted a plan in August that included giving up carry and disposing of assets over several years, according to documents seen by PEI.
As political volatility and the downfall of Abraaj Group weigh on the region, some private equity firms are looking to niche strategies for success.
The Apax and Bridges founder told delegates at PEI's Global Impact Investing Network Investor Forum that Abraaj's collapse bears little relation to its social impact.
The risks of sharing a blind pool where the sovereign wealth fund plays such an outsized role are being thrown into sharp relief.
Two LPs who committed to the $40bn vehicle said they are monitoring the situation involving a journalist's disappearance and the questions surrounding Saudi Arabia's potential involvement.
LPs in Abraaj's sixth global flagship and certain regional funds have been asked to cover credit line payments.
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