Arif Masood Naqvi
Arif Masood Naqvi
13 July 1960
|Alma mater||Karachi Grammar School|
London School of Economics
Arif Masood Naqvi (born 13 July 1960 in Karachi, Pakistan) is the founder and chief executive of The Abraaj Group. In 2018 he was accused by investors of misappropriation of investor funds, leading to a collapse of Naqvi's reputation and the provisional liquidation of his company.. It was later disclosed through a series of emails, that Naqvi was using the funds for personal use including for family members and other personal relationships. The company is being investigated by the Dubai regulators.
Early life and education
Arif Naqvi began his career with Arthur Andersen in London and American Express in Karachi. In the early 1990s, he joined the Olayan Group in Saudi Arabia, the Kingdom’s largest trading company. In 1994 he started an investment firm in Dubai called Cupola with $50,000 of his own savings. In 1999, Naqvi purchased Inchcape Middle East, for $102 million, with $4.1 million in equity, making it the MENA region’s first leveraged buyout. 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.
In 2007, Naqvi was granted the Sitara-i-Imtiaz by the Government of Pakistan, in recognition of his outstanding service in the field of public services. In 2015, Naqvi was awarded with the BNP Paribas Grand Prix for Individual Philanthropy by BNP Paribas.
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