Icarus: The Life and Death of the Abraaj Group

by Brian Brivati

In 2017, Arif Naqvi and The Abraaj Group were on the brink of changing the world of private equity. Abraaj was a pioneer of impact investing, it had helped transform communities and companies across the world by financing healthcare, education and clean energy projects, and it was about to close a new fund worth $6 billion. But then it all came crashing down.

On 10 April 2019, after landing at London Heathrow, Naqvi was arrested on fraud charges. He is facing extradition to the United States and a prison sentence of up to 291 years if he is found guilty.

The dominant media narrative has painted Naqvi as a thief and fraudster, the key man in an organised criminal conspiracy. But in this explosive book, which is based on extensive research and interviews, Brian Brivati investigates how things are not quite what they seem. Icarus explores how Abraaj found itself caught in the middle of a geopolitical war between the United States and China, and when it would not back down economic hitmen tried to wipe it out.

Genres: Finance

403 pages, Kindle Edition

Published July 20, 2021

About the author

Dr Brian Brivati has published extensive work on contemporary British politics with an emphasis on the political history of the British Labour party. His biography of Hugh Gaitskell (Richard Cohen Books, 1996) received 10 book of the year selections. His research and teaching has recently extended to comparative work on genocide and human rights. He speakers regularly for the Holocaust Education Trust. His articles have appeared in the Guardian, the Times, the Financial Times, the Independent on Sunday, the Observer, the New Statesman, Progress, the Fabian Review and Parliamentary Brief. He is a regular broadcaster on political history. He has also written a biography of Lord Goodman (Richard Cohen Books, 1999) and edited The Uncollected Foot: Essays, Old and New, 1953-2003 (Politico's, 2003), Ernest Bevin, single volume edition, by Alan Bullock (Politico's, 2002), Guiding Light: the collected speeches of John Smith (Politico's, 2001), The Labour Party: a Centenary History (Macmillan, 2000), Aneurin Bevan, 1897-1960, single volume edition, by Michael Foot (Victor Gollancz, 1997), and New Labour in Power: precedents and prospects (Routledge, 1997).

Reviews

[Rafa Willisch · Rating 4 out of 5]

This book makes a very good forensic analysis of the collapse of the Abraaj Group. I read "The Key Man" which covers the same subject but in a tabloid and sensationalist way. If you want a fair and balance view of the collapse of the Abraaj Group you should read Brian Brivati's book. I believe the WSJ and the authors of "The Key Man" were biased and there was a "dark" plan to bring this private equity company down. Why none of the top management of the Abraaj Group that are US citizens were not indicted by the DoJ but most of the Pakistanis were???. Who benefited of the collapse...perhaps some US companies??. This book will help you understand it all.

[Epictetus · Rating 1 out of 5]

The author seems to prefer emotion to facts. A disappointment.