BlueFive Capital has been appointed as General Partner of a new Fund of Funds established by CICC Capital and HBIS Group. The appointment makes BlueFive Capital the first GP of the platform.
The fund will invest through a mix of fund commitments and direct investments. Its strategy aligns with HBIS Group’s industrial focus, covering established sectors as well as growth areas such as advanced materials, new energy, and next-generation information technology. The fund targets total commitments of RMB32 billion, equivalent to about $4.58 billion, and will operate over a 15-year term. It will also support cross-border investment activity.
The structure of the fund is based on three core pillars: industry and finance integration, cooperation between central and local authorities, and international connectivity. Together, these pillars aim to link local government priorities with global capital and industrial development. BlueFive Capital will work with industrial groups, financial institutions, and local partners to support the fund’s long-term performance.
The fund was formally launched last month at a ceremony held at HBIS Group’s research and development centre. Attendees included Sheikh Mubarak Al-Sabah, Vice Chairman of BlueFive Capital; Chen Liang, Chairman of CICC; and Liu Jian, Chairman of HBIS Group.
Hazem Ben-Gacem, Founder and Chief Executive of BlueFive Capital, said:
“BlueFive Capital is deeply rooted in the Middle East with a global footprint. We are bullish about China’s long-term growth potential and see significant opportunities for HBIS Group’s cross-border expansion, particularly in high-end manufacturing and new building materials. This fund-of-funds will be instrumental in identifying high-quality investment opportunities both domestically and internationally, ultimately supporting industrial upgrading and high-quality development.”