Blue Five Capital has successfully raised $2 billion for a new fund that will focus on private equity investments in the Gulf Cooperation Council (GCC) region.
The Blue Five Private Equity Fund will target both majority and minority stakes “in high-growth companies and conglomerates” across the UAE and the broader GCC, which includes Saudi Arabia and Qatar.
The asset management firm stated that the fund is registered in the Abu Dhabi Global Market and will concentrate on sectors such as healthcare, technology, hospitality, aviation, and industry.
The company was founded by Hazem Bin Qassem, the former co-CEO of Investcorp, last November.
Earlier this week, the firm announced that it successfully closed its inaugural investment round, boosting the company’s asset value to $120 million and managing assets exceeding $650 million. It operates offices in Abu Dhabi along with other cities, including London, Riyadh, and Beijing.
Bin Qassem noted, “The fund will play a crucial role in expanding the private equity market within the GCC.”