Tell Group is bidding for Abraaj funds: Bloomberg

Tell Group SA, the investment firm founded by ex-UBS Group AG banker Yassine Bouhara, is offering to buy funds managed by collapsed Abraaj Group, Bloomberg is reporting. Tell is bidding $25 million to transfer the management of seven Abraaj funds to a new entity that would be 20 percent owned by Tell and 80 percent by Abraaj’s unsecured creditors, the story said.