Abraaj hires US investment bank to look at health fund after dispute

Abraaj has hired U.S. investment bank Houlihan Lokey to look at issues relating to the Dubai-based private equity firm's healthcare fund, Houlihan Lokey said in a statement to Reuters on Monday.

The move follows a dispute over how investor money was used by Abraaj, which came to light earlier this year and involved some of its investors including the Bill & Melinda Gates Foundation and International Finance Corp, a member of the World Bank Group.

“Houlihan Lokey has been retained to help Abraaj with issues pertaining to the Abraaj Growth Markets Health Fund," Jeff Hammer, managing director and co-head of illiquid financial assets at Houlihan Lokey, said in the statement.

Abraaj declined to comment.