Abu Dhabi-based BlueFive Capital is working with the private equity arm of CICC, sometimes referred to as China’s Goldman Sachs, to target Chinese companies in high-growth sectors. The two firms have formed a new fund to invest in companies working in advanced manufacturing, consumer goods, and green energy and help them expand in the Gulf, using the region as a manufacturing and distribution hub.
BlueFive is also in talks to acquire $500 million worth of assets in China, including the Four Seasons Beijing, Semafor reported this month. The private equity firm is helmed by former Investcorp chief Hazem Ben-Gacem, who previously closed a $1 billion fund with China’s sovereign wealth fund to back Gulf and Chinese companies. Public Investment Fund-backed ewpartners follows a similar model, positioning itself as a bridge Asia between and the Gulf.