BlueFive Capital has closed its latest private equity fund at $2bn, targeting high-growth investment opportunities across the Gulf Cooperation Council (GCC) region.

The BlueFive Reef Private Equity Fund will focus on both majority and minority stakes in sizeable businesses and conglomerates across sectors such as healthcare, technology, hospitality, aviation, and industry.

The fund, registered in Abu Dhabi Global Market (ADGM), reflects BlueFive’s ambition to help scale local champions into global leaders. Founder and CEO Hazem Ben-Gacem, the former co-CEO of Investcorp, described the vehicle as a “pivotal” step in broadening the private equity landscape in the Gulf.

“This fund will allow us to partner with exceptional founders and management teams to support establishing global leaders that are originating from the GCC,” Ben-Gacem said.

The $2bn fundraise comes just months after BlueFive launched in November 2024. The firm now manages over $650m in assets and is valued at $120m. It operates out of Abu Dhabi, with additional offices in London, Riyadh, and Beijing.

BlueFive’s launch and fundraise underscore growing global interest in GCC markets, as regional governments accelerate economic diversification agendas. Other major private equity players, including BlackRock’s GIP, Permira, and General Atlantic, have also recently expanded operations across the region.

Source: Reuters 

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