Waleed Noor was named as managing director and head of Middle East distribution for Chicago-headquartered private credit firm Monroe Capital.
The role is new and Noor will be based in Abu Dhabi. The firm is in the process of opening an office in Abu Dhabi, a news release said.
“Over the last few years, we have seen more interest and appreciation of the Monroe platform and the private credit asset class from Middle East investors," Ted Koenig, chairman and chief executive of Monroe Capital, said in the release. "We have a tremendous opportunity to expand our footprint in this region.”
Noor was a managing director and head of structured solutions sales for the Middle East and Africa region at Commerzbank, the release said. Commerzbank has been contacted for comment regarding a replacement.
As of March 2023, Monroe Capital had $15.2 billion in assets under management. The firm specializes in private credit markets across strategies including direct lending, technology finance, real estate and equity.