BlueFive Capital Named Lead General Partner for HBIS-CICC Private Equity Fund of Funds
Beijing, China – BlueFive Capital, a global investment platform, has been appointed as the lead general partner for a newly established private equity fund of funds, created in partnership with CICC Capital, the private equity arm of China International Capital Corporation (CICC), and HBIS Group, one of China’s leading steel manufacturers.
The fund will deploy capital through a combination of investments in other funds and direct investments, aligned with HBIS Group’s industrial priorities, including traditional industries as well as emerging sectors such as advanced materials, new energy, and next-generation information technology. The fund aims to raise 32 billion Chinese Yuan (approximately $4.58 billion) over 15 years, with a focus on strategic, cross-border investments to support HBIS Group’s long-term industrial objectives.
The fund is built on three strategic pillars: integration of industry and finance, collaboration between central and local authorities, and alignment with global financial systems. This structure is designed to bridge local governments, international capital, and industrial advancement. BlueFive Capital will collaborate with top industrial and financial institutions, alongside local partners, to ensure the fund’s long-term operational and strategic success.
The fund was officially launched last month at HBIS Group’s Research & Development center, with key attendees including Sheikh Mubarak Al Sabah, Vice President at BlueFive Capital, Chen Liang, Chairman of CICC, and Liu Jian, Chairman of HBIS Group.
Hazem Bin Qasim, Founder and CEO of BlueFive Capital, stated:
"BlueFive Capital has strong roots in the Middle East and a global presence. We are extremely optimistic about the long-term growth potential in China and see significant opportunities for HBIS Group to expand internationally, particularly in advanced manufacturing and modern building materials. This fund of funds will play a pivotal role in identifying high-quality investment opportunities both within China and globally, supporting industrial development and sustainable, high-quality growth."