Waha Capital

Waha Capital (traded as ADX: WAHA:UH) is an Abu Dhabi-listed investment company that offers shareholders and third-party investors exposure to high-potential opportunities in diversified asset classes. The company manages assets across several sectors, including aircraft leasing, healthcare, financial services, energy, infrastructure, industrial real estate and capital markets. Through its Principal Investments unit, Waha Capital has established a strong investment track-record, deploying capital in sectors that display robust demand fundamentals and that have been prioritised by governments in the Middle East and North Africa region. The company has also built a strong capability in managing global and regional credit and equity portfolios, which have enhanced the diversification and liquidity of Waha Capital’s balance sheet.[2][3]

Waha Capital
Al Waha Capital PJSC
Native name
الواحة كابيتال
TypePublic company[1]
ADX: WAHA:UH
IndustryInvestment
Founded1997
Headquarters
Abu Dhabi
Key people
Waleed Al Mokarrab Al Muhairi, Chairman,
Amr Al Menhali, CEO
ProductsAsset Management, Private Investments, MENA Equities, Fixed Income, Value Fund
Websitewww.wahacapital.ae

Since its foundation in 1997, Waha Capital has invested in five strategic sectors; offshore oil and gas services, aircraft leasing, financial services, healthcare[4] and Infrastructure.[5][6] As of December 2019, the firm had total assets of AED 9.3 billion/ US$2.5 billion under management.[7]

History

The firm was founded by an Emirati businessman Hussain J. Al Nowais as Oasis International Leasing Company in 1997.[8] Initially, the company operated as a leasing company of high-value assets, including aircraft, ships and infrastructure.[9][10] As of 2000, the firm's shares are listed on the Abu Dhabi Securities Exchange.[11]

Investment strategies

As the central part of the firm's investment strategy, Waha Capital is focused primarily on the MENA region’s emerging economies that are undergoing transition and set to grow.[12][13] It makes direct investments commercially across a number of sectors and regional infrastructure funds.[14]

Primary Investments
  • Dunia Finance[15][16]
  • Anglo Arabian Healthcare
  • Channel VAS
  • Stanford Marine Group
  • Mena Infrastructure Fund
  • National Petroleum Services[17][18]
  • ALMARKAZ

Structure and key personnel

Waha Capital is an Abu Dhabi-based investment group established in 1997 and is currently being led by its current Chairman Waleed Al Mokarrab Al Muhairi and its CEO Amr Al Menhali. Other notable figures include Ahmed Bin Ali Al Dhaheri and Carlos Obeid [19] The firm initially began as a leasing company, Oasis International Leasing Co. and rebranded itself in 2007 as Waha Capital to focus on the investment business.[20]

Awards
  • In 2015 Waha Capital has been awarded the “Cross border deal financing of the year” award by the M&A Advisor.[21]
  • In 2014 Waha Capital has secured the “Corporate Deal of the Year” award by the Banker Middle East magazine.[22][23]

Major acquisitions and investments
  • In 2019, Waha Capital divested its stake in AerCap Holdings with a net gain of Dh40 million. [24]
  • In 2015, the firm launched its second infrastructure fund with a value of $500 million.[25]
  • In 2010, acquisition of a 20% stake in NYSE listed AerCap, the stake rose to 26.3% in 2014.[26]
  • In 2014, acquisition of 90% stake of National Petroleum Services in Saudi Arabia, UAE, Qatar, Algeria, Malaysia, Brunei, India and Turkmenistan.[18]
  • In 2013, Waha Capital acquired Anglo Arabian Healthcare group, based in Abu Dhabi, Sharjah, and Ajman.[27]
  • In 2008, the firm co-sponsored $300 million MENA Infrastructure Fund I with 17.9 percent limited partner investment in it.[26]
  • In 2008, acquisition of 70% of Stanford Marine Group in Dubai.[28]
  • In 2008, the firm invested in Dunia Finance along with other investors.[2]

References
  1. "Waha Capital PJSC (WAHA.ADSM)". Zawya. Retrieved 2 December 2015.
  2. Haseeb Haider (13 November 2015). "Waha Capital to market public equities, credit funds". Khaleej Times. Retrieved 2 December 2015.
  3. Stanley Carvalho (22 October 2014). "UAE's Waha Capital sees asset growth with $500 mln investment - CEO". Reuters. Retrieved 2 December 2015.
  4. Sananda Sahoo (30 November 2013). "Abu Dhabi's Waha Capital aims to invest in Dubai's health insurance growth". The National. Retrieved 2 December 2015.
  5. Stanley Carvalho (17 May 2015). "UAE's Waha Capital to invest up to $1.08 bln by 2020 -chairman". Reuters. Retrieved 2 December 2015.
  6. "Company Profile". Retrieved 2 December 2015.
  7. Fareed Rahman (10 November 2019). "Waha Capital reports 13 per cent rise in Q3 revenue". The National. Retrieved 24 February 2020.
  8. "Waha Capital obtains $505m loan". Emirates247.com. 13 June 2011. Retrieved 2 December 2015.
  9. "Company Profile - About Us". Waha Capital. Retrieved 23 November 2015.
  10. "Company Profile - Waha Capital". Retrieved 2 December 2015.
  11. "Waha Capital". Abu Dhabi Securities Exchange. Retrieved 2 December 2015.
  12. Dania Saadi (16 April 2015). "Waha Capital to invest $1bn in Middle East energy sector". The National. Retrieved 2 December 2015.
  13. John Everington (1 February 2015). "Record annual profits for Waha Capital". The National. Retrieved 2 December 2015.
  14. Frank Kane (3 November 2015). "Long-term vision gives Waha Capital chief clear goals". The National. Retrieved 2 December 2015.
  15. "Waha Capital extends buy-back period". Gulf News. 16 November 2015. Retrieved 2 December 2015.
  16. "Abu Dhabi's Waha Capital in $575 mln hedging deal on half of AerCap stake". Reuters. 3 September 2014. Retrieved 2 December 2015.
  17. Dania Saadi (13 August 2015). "Waha Capital posts 85 per cent fall in second-quarter profit". The National. Retrieved 2 December 2015.
  18. "Abu Dhabi's Waha Capital buys into Dubai's National Petroleum Services". Reuters. 29 June 2014. Retrieved 2 December 2015.
  19. Mahmoud Kassem (12 November 2015). "Waha Capital earnings plunge amid market volatility and weaker Aercap income". The National. Retrieved 2 December 2015.
  20. "Interview: Waha Land COO Hazem S. Al Nowais on ALMARKAZ". 27 June 2012. Retrieved 2 December 2015.
  21. "Waha Capital wins Cross-Border Deal Financing of the Year". The Gulf Time. 24 May 2015. Retrieved 2 December 2015.
  22. "Waha Capital Wins 'Corporate Deal of the Year' from Banker Middle". Highbeam. 8 March 2015. Archived from the original on 20 February 2016. Retrieved 2 December 2015.
  23. "Waha Capital wins award for its $1.1b deal from Banker ME". The Gulf Today. 10 March 2015. Retrieved 2 December 2015.
  24. Fareed Rahman (4 December 2019). "Waha Capital concludes divestment in AerCap gaining Dh40 million". The National. Retrieved 24 February 2020.
  25. Waheed Abbas (28 May 2015). "Abu Dhabi's Waha Capital plans $500m Shariah-compliant fund". Emirates247. Retrieved 2 December 2015.
  26. "AerCap stake helps Waha Capital lift first-quarter profit". The National. 17 May 2015. Retrieved 2 December 2015.
  27. Tom Arnold (13 May 2014). "Waha Capital profit up to Dh152m with sale of stake at Aerlift Leasing". The National. Retrieved 2 December 2015.
  28. "Waha Capital net profit surges 38pc". 3 February 2013. Retrieved 2 December 2015.
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