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Bailey McCann, Opalesque New York:

$44 billion private equity firm Colony Capital has acquired Abraaj's Latin American funds. The news follows a report from the Wall Street Journal yesterdaythat the two firms were nearing a final deal on the acquisition. Colony has been the favorite to acquire Abraaj's Latin American investments since this summer when news emerged that the two firms were in talks. Abraaj's Latin American investments will rebrand as Colony Latam Partners.

The investments are valued at $500 million according to a statement from Colony Capital. The Wall Street Journal has reported that the total deal value for those investments is less than $10 million.

Abraaj has deployed over $700 million across 22 investments since its establishment in Latin America in 2006. Abraaj's core strategy is focused on growth equity investments in middle-market companies throughout the Pacific Alliance, a trade bloc consisting of Mexico, Colombia, Peru and Chile.

Colony Latam Partners will be led by senior management from Abraaj, including Miguel Angel Olea Sisniega, Hector Martinez Fry, Gerardo Mendoza Llanes and Eduardo Cortina Murrieta.

Abraaj is selling off its investments in Latin America as part of a ......................

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