Actis Acquires Management Rights to Abraaj Global Buyout and Sub-Saharan Africa Funds

Source(s): Actis

Global growth markets investor Actis has acquired the management rights to two funds formerly managed by emerging markets-focused private equity fund manager The Abraaj Group. Actis will take over management of Abraaj Private Equity Fund IV, a global buyout fund, and Abraaj Africa Fund III, a fund focused on sub-Saharan Africa, which hold stakes in a combined 14 portfolio companies. Financial details of the transaction were not disclosed.