Waha Capital, a UAE-based investment company with a focus on key sectors including infrastructure, industrial real estate and energy, has appointed Rashid Siddiqi as the new managing director for its private debt business, which is a new addition to the company’s fast-growing asset management business.

Rashid joins Waha Capital after nine years with NBK Capital Partners, where he was a managing director within NBK Capital Partner’s private equity and mezzanine debt investing business across the Middle East and North Africa and Turkey, said a statement from the company.

Waha Capital’s private debt business, led by Mirza Beg, was launched last year. It provides bespoke financing and direct lending solutions to mid-market companies in the Middle East, Africa and Turkey.

These funding requirements include growth and expansion capital, funds for share buybacks and special dividends, pre-IPO growth and acquisition financings, acquisition financings for management and leveraged buyouts, balance sheet recapitalisations and debt refinancing, said the statement.

The Abu Dhabi group said Mirza and Rashid will jointly manage the credit opportunities fund which would be the inaugural fund offering from Waha Private Debt.

Prior to NBK Capital Partners, Rashid spent six years with Bank of America in the US where he was a vice president within investment banking.

During his time at Bank of America, Rashid worked on various M&A, leveraged finance, debt advisory and equity capital raising deals for corporates and financial sponsors, it added.-TradeArabia News Service