Restructuring of Abraaj Growth Markets Health Fund

Asia - India | Africa - Mauritius | Caribbean - Cayman Islands | Middle East - United Arab Emirates

The Abraaj Growth Markets Health Fund, whose high-profile collapse was the largest in private equity history, was successfully restructured and transitioned to a new manager and investors through the use of an innovative solution that created a novel interim manager role governed by a protocol agreement between the interim manager and the provisional liquidators of other group entities. Patrick Corr acted for the Interim Manager in relation to the restructuring of the $1 billion health care fund with interests in multiple jurisdictions, including the Cayman Islands, Dubai, Mauritius and India. This matter is the first time that a Cayman Islands court approved the appointment of an interim manager.

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