Private Equity : BlueFive Capital raises $2 billion GCC private equity fund

BlueFive Capital, led by Tunisian-born Hazem Ben‑Gacem, has closed its inaugural Reef Private Equity Fund I, raising $2 billion under the Abu Dhabi Global Market (ADGM). Managed from Abu Dhabi, the fund will invest in majority and minority stakes in high-growth businesses across the Gulf Cooperation Council (GCC), focusing on healthcare, technology, hospitality, aviation, and industrial sectors. The firm’s 27-member investment team is spread across London, Riyadh, Dubai, Jeddah, Bahrain, and Beijing. Ben‑Gacem called it “a landmark moment for GCC private equity,” aiming to back regional champions on a global scale.