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Report: More than 10 private equity firms shortlisted for Abraaj funds

Abraaj Group Ltd. has shortlisted more than 10 private equity firms, including Canada's Brookfield Asset Management Inc., as candidates to acquire part or all of funds it manages, The Wall Street Journal reported, citing an email sent to investors.

Other contenders for the funds of the Dubai-based embattled firm include Actis LLP, Helios Investment Partners LLP, Abu Dhabi Financial Group and Kuwaiti logistics firm Agility Public Warehousing Co. K.S.C.P., according to the Sept. 4 report. U.S.-based Colony Capital Inc. is also back in the running following its failure to seal a previous deal to buy four of Abraaj's funds due to insufficient investor support.

The candidates were selected according to criteria that considered the firms' track records and relevant experience, the email said.

Final bids by interested parties for certain funds or Abraaj's entire fund management platform are due Sept. 14.