BlueFive Capital is planning to raise $3bn for a new defence-focused private equity fund, as the firm seeks to capitalise on rising military expenditure across the Middle East, according to Bloomberg.

The Abu Dhabi-based manager is targeting an initial $1bn first close by the third quarter, with the strategy focused on aerospace and defence companies whose technologies align with NATO standards.

The initiative is being supported by Michael Fallon, former UK Secretary of State for Defence and a senior adviser to BlueFive, who has been engaging with investors and potential portfolio companies.

BlueFive, founded in 2024 by former Investcorp executive Hazem Ben-Gacem, manages approximately $4.4bn in assets and has been expanding its presence in sectors linked to long-term structural growth.

If you think we missed any important news, please do not hesitate to contact us at [email protected].

Can`t stop reading? Read more.