Dubai: Investors in the Abraaj Growth Markets Health Fund (AGHF) have announced the appointment of global consulting firm, AlixPartners, to oversee the separation of AGHF from the Abraaj Group.
The separation is aimed at ensuring the long term success of the fund in delivering accessible, affordable and quality health care in developing countries, AGHF said in a statement.
AGHF is a $1 billion investment fund with a mandate to provide affordable, high-quality health care to underserved low and middle-income patients throughout Sub-Saharan Africa and South Asia, with performance measured by both financial returns and development impact metrics. The fund is now in the process of separating from the Abraaj Group to ensure continuity and build a stable platform for the future.
The recently announced appointment of provisional liquidators over Abraaj Holdings and Abraaj Investment Management Limited (AIML), the investment manager of the fund, does not impact the day-to-day operations of the fund’s portfolio.
AlixPartners is now working alongside the fund’s senior operational team and the provisional liquidators of AIML and supporting the search for a permanent replacement investment manager to manage the fund and continue its vital work.
“We’re working with the fund’s investors, its senior operational team and the provisional liquidators as part of ongoing discussions with several potential replacement managers for the fund who will continue to support its investee businesses,” said Simon Appell from AlixPartners.
— Staff Report
