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BlueFive Capital announced the closure of its acquisition of a substantial stake in Sidra Capital, a Saudi Arabia-based Shariah-compliant asset manager. Sidra Capital will be rebranded as BlueFiveSidra.
Al Murjan Group, a prominent Saudi family business group with ownership stakes in Sidra Capital, concurrently completed its acquisition of a substantial stake in BlueFive786, the Shariah-compliant investment arm of BlueFive Capital.
Hazem Ben-Gacem, Founder and Chief Executive of BlueFive Capital, will chair both the Investment Committee and Executive Committee of BlueFiveSidra.
Global Islamic Finance Platform
BlueFive Capital and Al Murjan Group are establishing a global Sharia-compliant asset management platform targeting investment products for Muslim populations across the GCC and Southeast Asia.
BlueFive786, headquartered in Singapore, aims to provide Shariah-compliant investment products including retirement and saving schemes in Indonesia, Malaysia, Bangladesh, Brunei, and Singapore.
BlueFiveSidra manages assets domestically and internationally, and is regulated by the Saudi Capital Market Authority, the Dubai Financial Services Authority, and Singapore's Monetary Authority. The firm achieved over 50 percent revenue growth since 2023, with consistent average returns on equity of 15 percent over five years, outperforming comparable regional asset managers.
Cross-Border Investment Access
The partnership enhances access to cross-border opportunities and institutional capital. BlueFive will support Sidra's asset allocation and investment strategy. BlueFiveSidra gains access to BlueFive's global product suite spanning Private Equity, Infrastructure, Real Estate, Leasing, Insurance, and Islamic Finance, while BlueFive's international investors gain Saudi Arabia exposure through the rebranded entity's local presence and regulatory standing.