Works from the Abraaj Group Art Prize will be managed by Art Jameel with some works going on show at the Dubai space Jameel Art Centre

Middle Eastern and South Asian works owned by embattled Dubai-based private equity firm carry much lower estimates than prices paid a decade ago

Plans to lend the Abraaj Group Art Prize collection to the Jameel Art Centre are also on hold

Founder Arif Naqvi's departure from the private equity firm's asset management business in February followed claims the company had misused investor funds