AlixPartners Supervises AGHF's Separation From Abraaj Group

Published August 19th, 2018 - 11:09 GMT
Abraaj founder Arif Naqvi (AFP)
Abraaj founder Arif Naqvi (AFP)

Gobal consulting firm AlixPartners said it has been appointed by investors of the Abraaj Growth Markets Health Fund (AGHF) to oversee the fund's separation from the UAE-based Abraaj Group to ensure its long-term success in delivering accessible, affordable and quality healthcare in developing countries.

The key investors in the fund include the Bill & Melinda Gates Foundation, CDC Group, International Finance Corporation, Medtronic, Opic, Philips, and Proparco. 

AGHF is a $1-billion investment fund with a mandate to provide affordable, quality healthcare to under-served low and middle-income patients throughout Sub-Saharan Africa and South Asia, with performance measured by both financial returns and development impact metrics. 

The Fund is now in the process of separating from the Abraaj Group to ensure continuity and build a stable platform for the future. 

The recently-announced appointment of provisional liquidators over Abraaj Holdings and Abraaj Investment Management Limited (AIML), the investment manager of the fund, does not impact the day to day operations of the Fund’s portfolio. 

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AlixPartners said it is now working alongside the fund’s senior operational team and the provisional liquidators of AIML and supporting the search for a permanent replacement investment manager to manage the Fund and continue its vital work. 

Simon Appell from AlixPartners said: "The AGHF is helping to deliver accessible, affordable and quality care for low and middle-income people in 10 of the largest cities in Sub Saharan Africa and South Asia, and we want to see that continue."

"We’re working with the Fund’s investors, its senior operational team and the provisional liquidators as part of ongoing discussions with several potential replacement managers for the Fund who will continue to support its investee businesses," noted Appell. 

“We are delighted that investors continue to support and finance the Fund as it goes through this transition and thank management, portfolio company founders, and advisors for their assistance and support of the Fund’s mission,” he added. 

The Abraaj fund is measured by both financial returns and impact metrics and is firmly targeted at Sustainable Development Goal 3, to bring healthy lives to the communities it serves. 

Delivering accessible, affordable and quality care is the centrepiece of its healthcare strategy.

To date the AGHF has ownership interests in 26 hospitals, 17 clinics and 32 diagnostics centres in India, Pakistan and Kenya and is in the process of entering the market in Nigeria.

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