Abraaj Holdings, Abraaj Investment Management Limited and Colony Capital, Inc. Successfully Agree on Transaction

- Colony Capital, Inc. agrees to assume the management of several key Funds

- Transaction also includes the acquisition of Abraaj's stakes and commitments in and to those Funds

- Transaction includes interim support solution for remaining Funds

DUBAI, United Arab Emirates and LOS ANGELES, June 21, 2018 /PRNewswire/ -- Abraaj Holdings, Abraaj Investment Management Limited (together "the Group") and Colony Capital, Inc., (NYSE: CLNY) ("Colony" or the "Company") through the Group's Joint Provisional Liquidators, PricewaterhouseCoopers and Deloitte, are pleased to announce that they have reached agreement on the principal terms for the sale and purchase of the Group's Latin America, Sub Saharan Africa, North Africa and Turkey Funds management business and the Group's Limited Partnership interests in the underlying Funds, along with staff in the eight offices being transferred under the terms of the deal.

Colony has also agreed to oversee, on an interim basis, other Group Funds that are not being acquired so that the Group and all its stakeholders have a comprehensive global solution in place.

The agreement has received in principle regulatory approval and is expected to close upon approval from the Grand Court of the Cayman Islands as well as other customary consents. The transaction is expected to complete by July 1.

Colony is a leading global investment management firm. Colony has significant holdings in the healthcare, industrial and hospitality sectors, in addition to other private equity and debt investments, with an embedded institutional and retail investment management business. It was founded by Thomas J. Barrack, Jr. in 1991.

Abraaj was founded in 2002 by Arif Naqvi and emerged to become a leading private equity investor in growth markets with a regional footprint spanning Latin America to South East Asia. The Group has investments which include a portfolio of mature businesses covering diverse sectors including financial services, FMCG, industrials, healthcare, education, manufacturing and logistics.

Tom Barrack, Executive Chairman, Colony Capital, Inc. said, "We are delighted to have crafted this comprehensive global solution for Abraaj and its stakeholders and sincerely hope that this can enable the process of rebuilding on all sides and also bring an end to the speculation that has swirled around Abraaj over the last months."