February 23, 2018 / 12:06 PM / 3 months ago

Private equity firm Abraaj CEO steps down, temporarily halts deployment activities

LONDON, Feb 23 (Reuters) - The chief executive and founder of emerging markets focused private equity fund Abraaj Group, Arif Naqvi, has stepped down as head of its fund management business as the firm said it was halting its deployment activities during a reorganisation.

The reorganisation comes weeks after Abraaj said it had hired global auditing firm KPMG to look into the finances of its healthcare fund after a reported dispute with some its investors in the fund.

Omar Lodhi and Selcuk Yorgancioglu were appointed as co-chief executive officers of the fund management business, Abraaj Investment Management Limited, a statement from the firm said, adding that they would take over with immediate effect from Naqvi, who founded Abraaj in 2002.

Reporting by Dasha Afanasieva; Editing by Edmund Blair

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