BlueFive’s debut fund hauls in bns: Abu Dhabi-based investment platform BlueFive Capital closed its debut private equity fund — The BlueFive Reef Private Equity Fund I — raising USD 2 bn, it said in a press release. This puts the fund within the ranks of the largest PE funds ever launched in the GCC, according to Bloomberg. The story was also picked up by Reuters.

The fund closed at double its original target: The initial plan was for a USD 1 bn financial services-focused fund, but the statement says BlueFive Reef Private Equity Fund I will invest in healthcare, technology, hospitality, aviation, and industrials through majority and minority stakes in large, high-growth companies across the UAE and broader GCC.

ICYMI- The move comes on the heels of the firm’s oversubscribed founding round earlier this week, which valued the firm at USD 120 mn.

About BlueFive: Launched in November 2024 by former Investcorp co-CEO Ben-Gacem, BlueFive Capital currently manages over USD 650 mn in assets, with offices in Abu Dhabi, Dubai, Riyadh, Jeddah, London, Bahrain, Singapore, and Beijing. The firm is targeting a USD 25 bn platform within five years, with investments across the Gulf, Asia, and Latin America.

IN CONTEXT- The UAE is drawing a growing roster of global asset managers and hedge funds looking to tap into the region’s capital flows, with private equity heavyweights including Permira and General Atlantic having recently set up shop here.

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