Bahrain’s Mumtalakat Acquires Stake in BlueFive Capital

Bahrain’s sovereign wealth fund (SWF), Mumtalakat Holding Company, has acquired a stake in BlueFive Capital, the Abu Dhabi-based private equity firm said on Monday.

“This latest investment provides BlueFive with long-term institutional backing as it continues to scale internationally,” the firm said in a statement.

Mumtalakat’s investment follows the closing of BlueFive Capital’s fundraising round from 25 founding shareholders under the Circle initiative.

The Bahraini SWF is among a group of prominent GCC and global investors backing the firm.

BlueFive, which manages over $2.6 billion in assets across offices in London, Abu Dhabi, Manama and Beijing, did not disclose the financial terms of the transaction.

BlueFive Capital was founded in 2024 by Hazem Ben-Gacem, formerly a co-CEO of the Bahrain-based alternative asset manager Investcorp, and is chaired by Sheikh Mohamed Isa Al Khalifa, the former CEO of Bahrain’s national pension fund.

In July, the firm raised $2 billion for a new fund targeting growth across the six-member Gulf Cooperation Council (GCC), with a focus on investments in healthcare, technology, hospitality, aviation, and industrial sectors.