Actis, UK-based growth market private equity firm, has bid to buy the bulk of the private equity funds' business of troubled Dubai-based Abraaj, Reuters reported, citing sources familiar with the matter.
It joins other potential buyers such as Kuwait's Agility, which has teamed up with New York-based Centerbridge Partners for its bid, York Capital and Abu Dhabi Financial Group.
Abraaj is expected to close the deal with the successful bidder by year-end, the report said.
Meanwhile, Abraaj has received interest from other potential buyers to run some of its emerging market business, sources said. However, it does not include its $1 billion healthcare fund.
US buyout firms TPG and KKR & Co have emerged as leading contenders to run the healthcare fund.
In June, Abraaj filed for provisional liquidation in the Cayman Islands after months of turmoil related to a row with investors over the use of their money in the healthcare fund.
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