BlueFive scoops up full stake in Wusoom Holding: BlueFive Capital’s newly-launched private equity fund has fully acquired Abu Dhabi-based investment firm Wusoom Holding for an undisclosed sum, it said in a press release. The takeover comes just days after it closed the USD 2 bn debut equity fund and marks the vehicle’s first public deployment.

ICYMI- Reef Private Equity Fund I is among the region’s largest-ever PE funds. The vehicle is targeting large-cap GCC companies across healthcare, tech, hospitality, aviation and industrials, sidestepping initial plans to focus exclusively on financial services players.

What’s next: BlueFive said it will focus on operational enhancements, tech adoption, and cross-portfolio collaboration as part of its post-acquisition strategy.

About Wusoom: Wusoom Holding (formerly known as Sinyar Enterprises) was formed in 2013 through the merger of three local investment firms. It currently operates a portfolio of over 40 companies across real estate, aviation, healthcare, technology and hospitality.

About the PE firm: BlueFive closed an oversubscribedfoundinground last week, which valued the firm at USD 120 mn. The investment platform was launched in November of last year by former Investcorp co-CEO Hazem Ben-Gacem and is targeting USD 25 bn in value within five years. Prior to the Wusoom transaction, the firm reported USD 650 mn in assets under management (AUM) with offices in Abu Dhabi, Dubai, Riyadh, Jeddah, London, Bahrain, Singapore, and Beijing.

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