BlueFive Teams Up with CICC Capital to Back Chinese Companies in the Gulf

CICC Capital, the private equity arm of China International Capital Corporation Limited, has partnered with Abu Dhabi-based BlueFive Capital to set up a new private equity fund aimed at supporting Chinese companies expanding into the Gulf region. The fund will primarily target firms in high-growth “new economy” sectors, including technology, digital transformation, green energy, advanced manufacturing, and consumer-driven industries.

The initiative positions the Gulf Cooperation Council (GCC) as both a gateway for Chinese businesses entering Middle Eastern markets and a launchpad for further global expansion. By combining BlueFive’s cross-border investment expertise and regional network with CICC Capital’s access to China’s private equity ecosystem, the partnership seeks to unlock new opportunities for scaling Chinese companies within the GCC and beyond.

CICC Capital and BlueFive Capital have agreed to proceed on a non-exclusive, good-faith basis as they work toward shaping the fund’s capital commitments, defining its investment strategy, and finalising the overall structure. The partnership aims to build a cross-border platform that links Chinese companies in emerging sectors with expansion opportunities across the Gulf and other global markets.

Highlighting the fund’s strategic intent, Shan Junbao, Chairman of CICC Capital, said the firm remains focused on cross-border partnerships that foster sustainable growth. He noted that teaming up with BlueFive Capital will extend CICC’s reach across geographies and into high-potential sectors, enabling it to back disruptive businesses shaping the future economy.

Hazem Ben-Gacem, Founder and CEO of BlueFive Capital, also stated that the initiative aligns with BlueFive’s mission to connect capital with transformative opportunities. He emphasised that emerging markets continue to fuel global growth, and the partnership combines BlueFive’s regional strengths with CICC Capital’s record of scaling innovation to deliver strong value for investors and entrepreneurs alike.

CICC Capital oversees about RMB 450 billion (USD 62 billion) in assets through its private equity funds and fund-of-funds. Its investments cover industries such as consumer, healthcare, manufacturing, and advanced technology. As one of the earliest securities firms in China to obtain a direct private equity investment licence, CICC has established a strong track record of supporting companies with capable leadership and sustainable competitiveness.

BlueFive Capital manages over USD 2.6 billion in assets and operates out of offices in Beijing, London, Abu Dhabi, Dubai, and Manama. Established by private equity veteran Hazem Ben-Gacem, the firm has rapidly built its presence as a cross-border investment platform connecting Asia with the Middle East. Earlier this month, it completed a stake sale to Bahrain’s sovereign wealth fund, following its announcement of a USD 2 billion fund dedicated to investments in technology, aviation, healthcare, and hospitality across the GCC.

The fund’s launch also coincides with a period when Gulf investors are deepening their ties with China, reflecting a growing push to diversify capital flows and expand economic partnerships. Industry players such as Investcorp have already created vehicles backed by Chinese institutions like CIC to tap this opportunity, with several deals executed over the past year. The CICC–BlueFive collaboration underscores the increasing alignment between the GCC and Asia’s second-largest economy.

By combining capital, networks, and on-the-ground expertise, the fund is expected to accelerate the entry of Chinese companies into GCC markets while positioning them for broader global growth. Both partners are betting that new economy sectors such as technology, green energy, and advanced manufacturing will continue to drive long-term value creation across emerging markets.