Buyout firm Abraaj in talks to sell fund unit stake to Colony NorthStar

Buyout firm Abraaj in talks to sell fund unit stake to Colony NorthStar

Arif Naqvi, chief executive officer of Abraaj Capital Ltd., speaks at the Milken Institute Asia Summit in Singapore, on Friday, Sept. 15, 2017. Photographer: Vivek Prakash/Bloomberg

Abraaj Group, the Middle East buyout firm roiled by allegations of misused funds, is in talks to sell a majority stake in its fund-management unit to Colony NorthStar Inc. to help stabilize the business, according to people with knowledge of the matter.

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