ABU DHABI, 12th November, 2026 (WAM) -- Waha Capital PJSC (ADX: WAHA), an Abu Dhabi-listed investment management company, today announced net profit of AED 376 million for the nine months ended 30 September 2026, representing a 10% increase compared to the corresponding period of 2025.
The Group's performance in the first nine months of the year reflects strong contributions from public and private markets, continued third-party capital raising and disciplined portfolio management, while its industrial and logistics development programme continued to progress, supporting long-term growth. Total Group assets under management reached AED 14.1 billion as of 30 September 2026.
Waha Capital maintained a stable financial position during the period, with borrowings of AED 544 million as of 30 September 2026, broadly unchanged from year-end 2025. The Group's cash and bank balances stood at AED 324 million, in addition to access to a significant undrawn revolving credit facility, providing flexibility to deploy capital into high-conviction opportunities.
Mohamed Hussain Al Nowais, Managing Director of Waha Capital, commented: “Our performance over the first nine months of 2026 reflects the resilience of Waha Capital's investment platform and our continued focus on disciplined execution. Despite a challenging market environment, we have delivered positive investment returns and made meaningful progress across our businesses.
''Our Public Markets business continued to demonstrate the strength of its investment capabilities and longterm track record. Third-party capital continued to grow, with more than US$ 400 million in gross subscriptions in the first nine months, reflecting strong investor demand for our strategies and supporting the continued growth of our recurring fee income,'' he said.
''Alongside this, we remain focused on unlocking value from our Private Investments portfolio and delivering our Real Estate development pipeline. Looking ahead, we will continue to prioritise disciplined capital allocation and the growth of our investment platforms to deliver sustainable long-term value for our shareholders.”
The business generated net profit of AED 340 million, up 17% from AED 290 million during the same period of 2025, driven by strong investment performance and growing recurring fee income. Total income was AED 429 million, including fee income of AED 206 million.
The flagship funds continued to build on their strong long-term track records despite challenging market conditions. The Waha Emerging Markets Credit Fund SP generated a net return of 7.3%, bringing its cumulative return since inception to 337.5%. The Waha MENA Equity Fund SP delivered a net return of 5.1%, with a cumulative return of 436.6% since inception, while the Waha Islamic Income Fund SP
remained steady during the period, with a cumulative return of 37.5% since inception. All three funds outperformed their respective reference indices.
Waha Investments continued to attract third-party capital, recording over US$ 400 million (approximately AED 1.5 billion) in gross subscriptions during the period. Third-party assets under management reached AED 8.7 billion (US$ 2.4 billion) as of 30 September 2026, while total Public Markets AUM, including proprietary capital, stood at AED 12.7 billion (US$ 3.4 billion).