Actis, TPG said to be preferred bidders for some Abraaj funds

Abraaj founder Arif Naqvi. Photographer: Vivek Prakash/Bloomberg

Actis has been picked as the preferred bidder for the management rights of Abraaj’s Africa funds, sources familiar with the matter said, as liquidators begin breaking up the operations of what was once the Middle East’s largest private equity firm.

Among Abraaj’s other operations, TPG has entered into exclusive negotiations to take over the management of Abraaj’s $1 billion Growth Markets Health Fund, according to a letter to employees of the fund seen by Reuters.

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