Abu Dhabi-based global investment platform BlueFive Capital announced that it has been appointed as the first General Partner (GP) of the China Development Fund, a vehicle of approximately USD 4.8 billion established through a partnership between leading Chinese investment and industrial institutions.
The fund has been launched in collaboration with CICC Capital, the private equity arm of China International Capital Corporation (CICC), and HBIS Group, one of the world’s largest steel producers.
The investment strategy is aligned with HBIS Group’s industrial priorities and targets both traditional sectors and emerging fields such as advanced materials, new energy and next-generation information technology, as well as international projects. The fund aims to reach a total size of RMB 32 billion (USD 4.58 billion) with a 15-year investment horizon.
Built on three core strategic pillars industry-finance integration, central and local government cooperation, and linkages with international financial systems—the fund structure seeks to establish a new bridge between local governments, global capital and industrial development. BlueFive Capital stated that it will work closely with leading industrial and financial institutions, along with local partners, to ensure the fund’s long-term success.
The fund was officially launched last month at a ceremony held at HBIS Group’s R&D Centre, attended by senior management from BlueFive Capital, Chen Liang, Chairman of CICC, and Liu Jian, Chairman of HBIS Group.
Hazem Ben-Gacem, Founder and CEO of BlueFive Capital, highlighted the firm’s strong roots in the Middle East and its global reach, expressing confidence in China’s long-term growth potential. He noted that the company sees significant opportunities for HBIS Group’s international expansion, particularly in advanced manufacturing and next-generation building materials.
Comments
No comment yet.