At least 75% of investors in two Abraaj funds have approved rival firm’s proposal to assume management of the funds

Former Reporter

UK private equity firm Actis is nearing a deal to take over two funds managed by its collapsed rival Abraaj Group, according to people familiar with the matter.

At least three-quarters of investors in a $1.6bn private equity fund and a $990m Africa-focused fund approved the proposed acquisition, the people said, overcoming a significant hurdle in what has been a protracted sale process.

Investors back private equity firm Actis’s bid for Abraaj assets

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