Bahrain Mumtalakat Acquires Stake in Abu Dhabi's BlueFive Capital

Bahrain's sovereign wealth fund, Mumtalakat, has acquired a stake in BlueFive Capital, an Abu Dhabi-based private equity firm founded in 2024 by Hazem Ben-Gacem. This investment highlights a growing trend among Gulf sovereign funds to increase exposure to private equity by purchasing stakes in asset managers while retaining operational control. BlueFive Capital manages over $2.6 billion in assets across Bahrain, London, Abu Dhabi, and Beijing, and recently raised $2 billion for a fund focused on the Gulf Cooperation Council region. Mumtalakat’s involvement provides BlueFive with long-term institutional backing to support its international expansion and reinforces the firm's credibility under the leadership of chairman Sheikh Mohamed Isa Al Khalifa. The deal also reflects the increasing importance of private equity in the Gulf's investment landscape, with sovereign funds like Mumtalakat seeking to strengthen their position despite global market uncertainties. This move further cements the Gulf region's role as a rising hub in global private equity markets.