Claim: Arif Naqvi(born 13 July 1960 in Karachi, Pakistan) sold off pieces of the company and founded Abraaj Capital later called The Abraaj Group and he is still the CEO.
Evidence: Arif Masood Naqvi (born 13 July 1960 in Karachi, Pakistan) is a Pakistani businessman who was the founder and chief executive of the Dubai-based private equity firm, The Abraaj Group. The Abraaj Group was founded in 2002 and operated in Africa, Asia, Latin America, Middle East, Turkey and Central Asia. Naqvi then sold off pieces of the company for a total of $173 million. In 2002, Naqvi founded Abraaj Capital, and in 2012 the company merged with Aureos Capital to become The Abraaj Group. As of March 2018, Arif Naqvi has stepped down as CEO of The Abraaj Group, as the Company has become the subject of multiple investigations regarding its fund management practices.