Waha Capital has hired Rashid Siddiqi as a managing director for its private debt group, according to reports. The UAE-based firm established its private debt team last year.
Waha recently announced its intention to introduce a private debt fund product. In an earnings announcement issued earlier this month, the firm said it is in the process of launching the offering. It has committed seed capital to the fund to the tune of $50 million, the earnings statement noted.
Waha established its private debt operation in 2016. It is headed up by Mirza Beg.
Siddiqi joins from NBK Capital Partners. He was with NBK for nine years, with roles in both its private equity and mezzanine investing business.
A spokesman for Waha did not respond to calls seeking additional comment by time of publication.