Actis said to have secured investor nod to acquire two Abraaj funds

Visual from Abraaj website

Actis received investor approval to take over two funds managed by the collapsed Abraaj Group, clearing a major hurdle for the emerging-market investor to complete a deal, according to people familiar with the matter.

London-based Actis last week got the 75% of investor support required to take over the $1.6 billion Abraaj Private Equity Fund IV and the $990 million Africa Fund III, said the people, asking not to be identified because the matter is private. A final deal hasn’t been agreed and may take at least a few more weeks to complete, they said.

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