Mideast Private Equity Veteran’s BlueFive Sells Stake to Bahraini Fund

Hazem Ben-Gacem has sold a stake in his new firm BlueFive Capital to Bahrain’s sovereign wealth fund, in an early sign of the Middle East private equity veteran leveraging his ties to investors in the oil-rich region.

Mumtalakat Holding Co. has taken a stake in BlueFive, the Abu Dhabi-based firm said in a statement on Monday. “This latest investment provides BlueFive with long-term institutional backing as it continues to scale internationally,” it said.