I have written a book on the biggest PE collapse in history. Hopefully it will be less dry than most books on the space...
The Key Man: How the Global Elite was Duped by a Capitalist Fairy Tale tells the story of Arif Naqvi, the founder of Dubai-based private equity firm Abraaj Group.
Arif was a pioneering impact investor who raised billions of dollars from investors by vowing to end global poverty through capitalism. He ended up arrested on fraud charges and faces up to 291 years in jail.
At its peak, Abraaj managed $14bn and its investors included the Bill & Melinda Gates Foundation, the World Bank, as well as the U.S., French and British governments. Other big investment consultants like Hamilton Lane recommended Abraaj and Deutsche Bank was a shareholder in the holding company.
Arif, the founder, now stands accused of stealing hundreds of millions of dollars and the firm collapsed with $1bn of debt (impressive for a PE firm earning the management fees that they do).
The link to the book is here if you want to read: https://amz.run/4aah or https://amz.run/4aai
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