Abraaj Group Appoints Co-CEOs As Navqi Steps Back

Feb 23 2018 | 12:18pm ET

Abraaj Group today announced broad changes to the firm’s governance and operating model and the appointment of a new leadership team. Arif Naqvi, founder of Abraaj, will step back from management of the firm’s fund business.

Omar Lodhi and Selcuk Yorgancioglu will become co-CEOs and continue Naqvi’s previous roles. Naqvi will instead focus on managing Abraaj Holdings and will retain a non-executive role as a member of the Global Investment Committee of AIML.

Lodhi and Yorgancioglu will assume their roles with immediate effect. Both of them have each been with the Group for over 10 years and were respectively Partners for the Group’s Asia and Turkey businesses.

In their new positions, they will be responsible for the overall strategy of the fund management business but will each have different areas of responsibility. They will work closely with the board of AIML to drive the necessary operational and governance changes to ensure that the firm continues to perform at the highest levels.

“Under Arif Naqvi’s leadership, Abraaj has grown in size and scale over the past 16 years to become a leading investor in growth markets. As the firm looks ahead to the future, we believe this is the right moment to transition the fund management business to a new structure that will best serve the requirements of our investors and stakeholders,” Sean Cleary, chairman of the Board of Directors of AHI said in a statement.

Founded in 2002, Abraaj has made 170 investments across a range of sectors including consumer, energy, financials, healthcare and utilities. The company has 17 offices spread across five regions with hubs in Dubai, Istanbul, Mexico City, Nairobi and Singapore. The company currently manages around $13.6 billion across targeted regional, sector and country-specific funds. It is a signatory of the UNPRI and the United Nations Global Compact.

In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...