Tuesday 14, August 2018 by Kudakwashe

Kuwait's Agility partners with Centerbridge on Abraaj bid

 

Agility has teamed up with Centerbridge Partners to make its offer more attractive to limited partners in Abraaj’s funds, creditors and the provisional liquidators.

  

Kuwait’s Agility has teamed up with New York-based Centerbridge Partners for its bid to acquire all or part of Abraaj Group, reported Reuters.

Canterbridge Partners has around $28 billion in capital under management and expertise in distressed debt and private equity.

Additionally, Agility is also working on forming a team of investment professionals to help manage the business it hopes to acquire, including Yousef Al Essa, the former Chief Executive of Amwal International Investment Company and Addax Bank, as well as Yahya Jalil, formerly Managing Director of Frontier Management Group.

The duo joins a number potential buyers who has shown interest in acquiring units of Dubai-based Abraaj, which filed for provisional liquidation in the Cayman Islands in June after months of turmoil related to a row with investors over the use of their money in a $1 billion healthcare fund.

  

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