UAE-Based BlueFive Capital Raises $2 Billion to Support Private Equity in the Gulf
BlueFive Capital, an investment company based in the UAE, has raised $2 billion for a new fund. The goal is to invest in fast-growing businesses in the Gulf Cooperation Council (GCC), which includes countries like the UAE, Saudi Arabia, and Qatar.
About the Fund
The new fund is called the BlueFive Reef Private Equity Fund. It plans to buy large and small shares in companies and business groups in the Gulf region. It will focus on industries like healthcare, technology, hotels, aviation, and manufacturing. The fund is registered in Abu Dhabi’s Global Market (ADGM).
Hazem Ben-Gacem, the founder and CEO of BlueFive Capital, said the fund will help grow the private equity market in the region. He added that they want to work with strong business leaders and help create global companies from the GCC.
Ben-Gacem started BlueFive Capital in November 2024. Before that, he was co-CEO at another investment company called Investcorp. BlueFive now has offices in Abu Dhabi, Dubai, London, Riyadh, Bahrain, and Beijing, and it manages more than $650 million in assets. After completing a funding round on July 9, the company is now worth $120 million.
More Global Attention on the GCC
This new fund shows how international investors are becoming more interested in the Gulf region, especially as its countries try to move away from oil and grow other parts of their economies.
Big global investment firms like Global Infrastructure Partners (backed by BlackRock), Permira, and General Atlantic have also increased their presence in the Gulf.
BlueFive Capital said it plans to benefit from the region’s fast-growing economy and use it as a base to reach other markets.
Economic Growth in the Gulf
The World Bank expects the GCC economy to grow by 3.2% in 2025 and 4.5% in 2026. This growth will come from reduced oil production limits and strong progress in non-oil sectors.
In 2024, the Gulf economy grew 1.7%, up from just 0.3% in 2023. Non-oil industries grew by 3.7%, supported by people spending more, rising investments, and government reforms.
Safaa El Tayeb El-Kogali from the World Bank said the Gulf countries are doing a good job managing global challenges while continuing to improve their economies. She said smart government policies, good investments, and support for innovation and youth jobs are key to long-term success.
Published: 14th July 2025
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