Waha Capital hires private debt director

Abu Dhabi-based investment firm Waha Capital has hired Rashid Siddiqi as a managing director in its recently established private debt business.

Siddiqi joins from NBK Capital Partners, where he worked in private equity and mezzanine debt investing in the Middle East, North Africa and Turkey.

Launched last year, Waha Capital’s private debt business provides financing and direct lending to mid-market companies in the Middle East, Africa and Turkey that are in need of funding.

“These funding requirements include growth and expansion capital, funds for share buybacks and special dividends, pre-IPO [initial public offering] growth and acquisition financings, acquisition financings for management and leveraged buyouts, balance sheet recapitalisations and debt refinancing,” said the company in a statement.

The department’s first fund, the Credit Opportunities fund, will be jointly managed by Siddiqi and Mirza Beg, who leads the private debt business.

©2017 funds global mena

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