April 9, 2018 / 1:31 PM / in 4 months

Dubai-based Abraaj hires Houlihan Lokey to look at health fund after dispute

DUBAI, April 9 (Reuters) - Abraaj has hired U.S. investment bank Houlihan Lokey to look at issues relating to the Dubai-based private equity firm’s healthcare fund, Houlihan Lokey said in a statement to Reuters on Monday.

The move follows a dispute over how investor money was used by Abraaj, which came to light earlier this year and involved some of its investors including the Bill & Melinda Gates Foundation and International Finance Corp, a member of the World Bank Group.

“Houlihan Lokey has been retained to help Abraaj with issues pertaining to the Abraaj Growth Markets Health Fund,” Jeff Hammer, managing director and co-head of illiquid financial assets at Houlihan Lokey, said in the statement.

Abraaj declined to comment. (Reporting by Tom Arnold, Saeed Azhar and Hadeel Al Sayegh; Editing by Andrew Torchia)

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