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Abu Dhabi-based private equity firm BlueFive Capital is preparing to close a new USD 1 bn Asia fund in 4Q, Reuters reported on Thursday, citing statements made by CEO Hazem Ben-Gacem at a conference in Singapore. The proposed vehicle will channel capital into Indonesian aviation and mining, alongside transport-linked infrastructure in China (such as airports and ports), as the PE looks to capture shifting trade flows.
The pitch: Ben-Gacem pointed to evolving geopolitics and the rerouting of trade capital between Asia and the Middle East as the structural drivers his new PE fund wants to capitalize on. The Mumtalakat-backed firm is currently courting Middle Eastern family offices looking to break into Asian markets.
BlueFive already has a China play in motion: Just last month, BlueFive partnered with China’s CICC Capital to launch a USD 500 mn private equity fund — the first GCC-originated PE platform to be denominated in CNY — targeting China’s new economy sectors, including tech, green energy, and advanced manufacturing. The firm was also said to be in talks to acquire some USD 500 mn worth of Chinese real estate assets, including the Four Seasons Beijing.
ICYMI- BlueFive — which recently closed its USD 2 bn debut fund — is aiming to scale into a USD 25 bn platform within five years across the Gulf, Asia, and Latin America, targeting the USD 5 bn mark as early as November.
ALSO- The firm is pushing into Southeast Asia, with a new shariah-compliant asset management platform launched under its partnership with Jeddah-based Al Murjan Group. The tie-up will see BlueFive open a Riyadh office to co-manage Saudi investments with Al Murjan’s Sidra Capital unit. The move follows BlueFive's recent acquisition of DIFC-based Neo Capital which was rebranded as BlueFive Private Wealth.
About BlueFive Capital: Launched in November 2024 by former Investcorp co-CEO Hazem Ben-Gacem (LinkedIn), BlueFive Capital currently manages over USD 650 mn in assets, with offices in Abu Dhabi, Dubai, Riyadh, Jeddah, London, Bahrain, Singapore, and Beijing.
