Emerging markets investor Actis’s bid to take over a $1.6bn fund managed by troubled Abraaj Group is running into some resistance from a rival bidder and an Abraaj investor opposing the deal, according to documents seen by The Wall Street Journal.

Actis for months has been working with Abraaj’s liquidators on taking over the management of at least five Abraaj funds focused on southeast Asia, the Middle East and Africa as part of an ambitious expansion plan.