The Collapse of Abraaj: Resolved and Pending Cases in the U.S. and Dubai Against the Former PE Giant

The Abraaj Group – a large association of PE and other private investment funds, along with their respective general partners, investment advisers and other entities – had more than $13 billion in assets under management in 2018 and was the largest PE firm in the Middle East. After investors raised concerns about the use of their investments – and the Dubai Financial Services Authority received an anonymous complaint about the misuse of investor funds – the Abraaj Group began its very public and complete collapse. In the aftermath, various entities in the Abraaj Group and several individuals have been charged with regulatory violations and crimes in both the United Arab Emirates and the U.S. This article discusses the collapse of the Abraaj Group and summarizes the resolved and pending cases against Abraaj entities and various individuals. For more on investment funds in the Middle East, see “K&L Gates Program Discusses the Ins and Outs of Global Fundraising for Fund Managers: The E.U. and the Middle East (Part One of Two)” (Jun. 7, 2018).

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