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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 Dh2.4 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 per cent owned by Mubadala Investment Co, also has direct long-term holdings spanning aviation, 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 (Dh1.1 billion) private-equity fund. “We have never set any targets for fund raising,” he said, adding that Waha has taken a co-investment route rather than raising pools of capitals.
Troubles at Dubai-based Abraaj Group Ltd has had no “noticeable direct impact on our business, which is diversified between our principal investments and our asset management business,” the CEO said.
Abu Dhabi investment firm Waha Capital 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
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