Cerberus offers $125M for Abraaj PE business: Wall Street Journal

Cerberus Capital Management LP has offered $125 million to acquire the private-equity business of Abraaj Group of Dubai, the Wall Street Journal reported. If a sale goes through, it would involve existing investor commitments being transferred to a new company; Cerberus is not taking on any existing liabilities of either the fund-management business or Abraaj’s holding company, the story said. Abraaj is currently in a dispute with investors that have raised questions about its financial practices.