UAE-listed Waha Capital, which counts Mubadala Investment Company as its main shareholder, is set to launch a new investment strategy that will involve acquiring controlling stakes in some businesses in the Middle East and North Africa (MENA) region. 

As part of the strategy, the investment company has appointed Hashem Dabbas as chief investment officer of the private investments business, Waha Capital said in a statement to the Abu Dhabi Securities Exchange (ADX) on which its shares are listed. 

“In line with this appointment, a new private investments strategy will be launched with a global investment mandate and will be comprised of two portfolios – core and global opportunities,” the statement said. 

Waha Capital will target stable, cash-generative assets within the region, as well as investments in the alternatives space with high risk-adjusted returns. 

For cash-generative assets, Waha Capital plans to take “controlling or significant” minority stakes in companies led by best-in-class management teams with establish track records, the statement said. These businesses should be in sectors “underpinned by strong tailwinds and growth trends”.  

“Waha Capital is uniquely positioned to compound returns by partnering with businesses for longer investment horizons and across cycles,” the company said. 

Waha Capital manages assets in various sectors, including public securities and credit markets, healthcare, industrial real estate, infrastructure, energy, financial services, travel and fintech. 

The company reported a net profit of 231 million dirhams ($62.9 million) in 2020 compared to a loss of 616.3 million dirhams in 2019. 

(Writing by Cleofe Maceda; editing by Seban Scaria) 

Cleofe.maceda@refinitiv.com 

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