News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Regulation

How Abraaj slipped between the cracks for global regulators

Firm had complex structure with entities in Mauritius, the Cayman Islands and other jurisdictions

The collapse of Abraaj Group, the world’s largest insolvent private equity firm, has exposed a gap in oversight of the global financial system.

Abraaj created companies and funds in jurisdictions including Dubai, the Cayman Islands, London, Singapore, Mauritius and the US. But no single regulator was responsible for supervising the entire firm. This allowed regulators to absolve themselves of blame for not identifying any mismanagement.

WSJ Logo