 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.