# Waha Capital

Waha Capital is an Asset Manager based in Abu Dhabi, United Arab Emirates.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Abu Dhabi, United Arab Emirates
- **Region:** Middle East
- **Address:** Abu Dhabi, United Arab Emirates
- **Founded:** 1997
- **Assets under management:** AED 11.9 billion
- **Website:** wahacapital.ae
- **Wikidata:** Q21680500

## Regulatory record

- **Reports private funds:** No

## About

Waha Capital is a publicly listed Abu Dhabi-based investment company. It manages and deploys capital in sectors including aircraft leasing, financial services, healthcare, offshore services for oil and gas, and real estate development. The company operates within a network of Abu Dhabi's key investment and financial institutions, with institutional shareholders including Mubadala Development Company.

## Sectors

- Energy Transition & Renewables
- Private Credit
- Real Estate
- Infrastructure

## People

- Waleed Al Mokarrab Al Muhairi — Chairman
- Mohamed Hussain Al Nowais — Managing Director

## Questions

### What does Waha Capital actually invest in?

Waha Capital organizes its strategy into three verticals. The private investments business takes direct minority equity stakes, while the private credit arm originates structured, often asset-backed lending to mid-market borrowers, primarily in the Gulf region. The public markets division runs a concentrated long-only equity portfolio, historically weighted toward North American small- and mid-cap names. Sector exposures recorded over time include energy, infrastructure, real estate, and aviation.

### Who runs investment decisions at Waha Capital?

As a publicly listed company, Waha Capital's investment decisions are governed by its board of directors, chaired by Waleed Al Mokarrab Al Muhairi, and executed by its management team under Managing Director Mohamed Hussain Al Nowais. The firm has maintained a relatively lean investment team structure, with investment committee oversight set at the board level rather than through a separate LP advisory committee.

### Does Waha Capital participate in fund commitments or only direct deals?

Waha Capital's disclosed strategy focuses on direct principal investments rather than third-party fund commitments. The firm invests its own balance sheet directly into equity, credit, and public market opportunities. There is no public evidence of a fund-of-funds program or regular commitments to external private equity managers.

### How is Waha Capital related to its aviation leasing origins?

Waha Capital was founded in 1997 as a UAE-based aviation leasing company and built a significant aircraft leasing portfolio before shareholders voted to broaden the mandate in 2012. The firm subsequently transitioned away from direct aircraft ownership, selling legacy leasing assets and redeploying capital into private equity, credit, and public markets. Its former association with AerCap Holdings stemmed from that legacy aviation book, but the current portfolio is no longer concentrated in aerospace.

## Related profiles

- [Wags Capital](https://altss.com/profile/wags-capital)
- [Wahed Ventures](https://altss.com/profile/wahed-ventures)

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Last updated: 2026-07-08T23:43:01.255Z

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