BlueFive Capital buys into Indonesian shariah fund manager Majoris

BlueFive Capital’s shariah-compliant platform BlueFive786 is buying into Indonesian shariah-compliant fund manager PT Majoris Asset Management, its first transaction in Southeast Asia, according to a press release (pdf). Majoris will be rebranded as BlueFiveMajoris, and both the investment and the rebrand still need sign-off from Indonesia’s Financial Services Authority. Neither the size of the stake nor the value of the acquisition was disclosed.

About Majoris: Majoris serves more than 700k retail customers and 50 institutional clients. Most of that business sits in money-market and fixed-income products, with its sukuk fund as the flagship. Shariah-compliant products make up only about 10% of Indonesia’s asset management market, BlueFive said. That is a small slice in the world’s most populous Muslim country.

How it will work: Majoris will get access to BlueFive’s international investor base, while BlueFive will get a local channel for its own shariah-compliant products, BlueFive Founder and CEO Hazem Ben-Gacem said.

BACKGROUND- BlueFive is less than two years old and has been deploying fast. It launched in November 2024 and now manages more than USD 15 bn, up from USD 650 mn in mid-2025. Last month it closed its purchase of a 30% stake in Bugatti Rimac. Majoris is the first transaction to put real weight behind Ben-Gacem’s pitch that trade and capital will reroute between the Gulf and Asia. It’s also a different kind of Indonesia exposure from the one BlueFive flagged last year, when it said its USD 1 bn Asia fund would target Indonesian aviation and mining assets.