M&A WATCH- NBK Capital Partners bows out of “advanced” talks to acquire Abraaj’s global credit fund: National Bank of Kuwait’s brokerage unit NBK Capital Partners has exited advanced-stage talks to acquire a global credit fund from defunct PE firm Abraaj, Reuters reported, citing two sources familiar with the matter. NBK Capital Partners, which was reportedly close to completing the transaction, is no longer engaging with the liquidators, one source said. Investors in the credit fund also failed to reach an agreement on the valuation for a potential transaction with NBK, another source said.

Background: Abraaj was widely seen as a standard-bearer for EM private equity before it collapsed last year amid concerns about the misuse of funds. The global credit fund, which had raised over USD 250 mn, was an EM fund offering private debt to medium-sized and growth-oriented companies.