[1] The firm was founded by Pakistani businessman Arif Naqvi and was based in Dubai, United Arab Emirates.

[7] In 2018 the firm was hit by turmoil,[8] as it was revealed that several limited partners including the Gates Foundation were investigating its misuse of investor funds and appointed an auditor to trace the money.

[27] Abraaj built a portfolio of private credit investments, diversified across sector and geography in emerging markets.

[32] As of September 2017, the firm had invested over US$1 billion in energy, including a partnership with ENGIE to develop a wind power platform in India.

[34] In 2015, the firm announced a partnership with Aditya Birla Group to build a 1GW scale solar energy platform in India.

[35] In May 2019, after the forced liquidation of Abraaj, U.S. private equity firm TPG signed a definitive agreement to take over the healthcare fund.

Nine projects were selected ranging from developing myoelectric prosthetic limbs in Kolkata to tracking crime patterns for a safer culture in Puebla.

[45] During August Abraaj ex-CEO, Arif Naqvi, was sentenced to three years of imprisonment by a UAE court, in absentia, in the misdemeanour case filed against him by Air Arabia PJSC, where he was a former Board member.

At least two other members of Abraaj’s finance team in Dubai also previously worked for KPMG, including the son of chairman and chief executive Vijay Malhotra of affiliate, KPMG Lower Gulf Ltd.[51] During November, two units of Abraaj that are now in liquidation, filed a lawsuit in Dubai against KPMG LLP for damages of US$600 million alleging that KPMG accountants “failed to maintain independence and an appropriate attitude of professional scepticism,” and breached their duty of care when auditing the private-equity firm[52] Mustafa Abdel Wadood, an Egyptian and Maltese national, who was senior executive officer (SEO) of Abraaj Capital Limited (ACLD), the DFSA-authorised unit of the Abraaj Group was fined $1.6 million by the DFSA for breaching its rules and deceiving investors.

From July 2006 to February 2018 he held various roles including managing partner, global head of private equity and board member.

[53] Mustafa is already out in the US on a $10 million bail since 2019 after having pleaded guilty, and his sentencing has been postponed by the US Attorney for the Southern District of New York, pending the outcome of an extradition request from the UK of the company’s founder, Arif Naqvi.