Monday , March 25 2019

Waha Capital plans to hire for new funds


Abu Dhabi investment firm Waha Capital PJSC plans to hire more people as it seeks to start new funds, one of which will target undervalued US and European equities.
“Our strategy is to increase fee income by raising third-party assets under management,” Chief Executive Officer Michael Raynes said in an emailed response to questions. “The focus is to take opportunities to investors, in this region and in Europe, the United States and Asia.”
The company, which has AED2.4 billion ($653 million) in assets under management, is reorganising its fund-marketing division to support its investment drive, which may also include a fund that caters to regional demand for sharia-compliant investments, he said.
Waha Capital, 14 percent owned by Mubadala Investment Co., also has direct long-term holdings spanning avia- tion, energy and financial services, and a private-equity division focused on the Middle East and North Africa.
Raynes denied a report published last month that the company abandoned plans to raise a $300 million private-equity fund.

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