Hazem Ben-Gacem, founder and chief executive of BlueFive Capital, will lead the new venture by chairing the executive and investment committees. This partnership aims to capture the underserved Muslim wealth management market across the GCC and Southeast Asia. The newly established BlueFive786, based in Singapore, will focus on retirement and savings products tailored for Indonesia, Malaysia, Bangladesh, Brunei, and Singapore.
BlueFive Capital and Al Murjan Forge Global Islamic Finance Alliance
A strategic cross-shareholding deal between BlueFive Capital and Saudi Arabia’s Al Murjan Group has birthed a new global Islamic finance platform. The agreement includes the acquisition of a stake in the Riyadh-based Sidra Capital, which will now operate under the rebranded identity of BlueFiveSidra to expand its international footprint.
The combined entities currently manage $3.8 billion in assets. With a 50 percent revenue increase since 2023 and a five-year average return on equity of 15 percent, the firm intends to leverage its regulatory licenses in Saudi Arabia, Dubai, and Singapore to bridge cross-border investment gaps. BlueFiveSidra will grant Saudi investors access to BlueFive’s suite of private equity, infrastructure, and real estate offerings, while simultaneously opening the Saudi market to BlueFive’s international institutional investor base.
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