Ex-UBS banker-led boutique firm Tell Group to bid for Abraaj funds

Arif Naqvi, chief executive officer of Abraaj Capital Ltd., pauses during a Bloomberg Television interview in London, U.K. Photographer: Luke MacGregor/Bloomberg

A boutique investment firm founded by former UBS Group AG banker Yassine Bouhara is bidding to buy funds managed by the collapsed Abraaj Group, according to a proposal letter and people familiar with the plans.

Tell Group SA is offering $25 million to transfer the management of seven Abraaj funds to a new entity that would be 20% owned by Tell and 80% by Abraaj’s unsecured creditors, according to the letter seen by Bloomberg and the people, who asked not to be identified because the discussions are private.

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