Tunisian investor Hazem Ben-Gacem closes four deals in seven weeks as BlueFive Capital builds a GCC industrial platform

Hazem Ben-Gacem, the Tunisian founder and chief executive of Abu Dhabi-based BlueFive Capital, has closed four strategic transactions in under two months, cementing the firm's position as one of the Gulf's most active new private equity platforms.

The run began on Thursday 24 April, when Porsche AG announced it would sell its entire stake in the supercar joint venture Bugatti Rimac to a consortium led by New York-based HOF Capital, with BlueFive Capital as the consortium's largest single investor. Porsche held a 45 percent minority stake in Bugatti Rimac and a separate 20.6 percent stake in Rimac Group; both positions are being fully divested. Financial terms were not disclosed. Completion remains subject to regulatory clearance and is expected before the end of 2026.

Ben-Gacem described the Bugatti investment as a long-term commitment rather than a financial transaction, saying BlueFive looked forward to working alongside the Bugatti Rimac team "to honor that legacy for generations to come", in a statement carried by the Porsche newsroom.

A mobility platform takes shape

Within weeks, BlueFive turned its attention to the UAE's transport sector. On 18 May, the firm completed the acquisition of a 49 percent stake in Massar Solutions from Abu Dhabi National Energy Company (TAQA), with Solutions+, a UAE holding company, retaining the remaining 51 percent. Founded in 1981, Massar Solutions manages a fleet of more than 8,500 vehicles across the UAE and Saudi Arabia and holds trade licences in Oman and Bahrain. All regulatory approvals were received.

Ben-Gacem said the deal was "an important step in BlueFive Capital's vision to be a leader in the regional mobility sector", in a statement carried by Zawya.

On 10 June, BlueFive added a second mobility asset: a 49 percent stake in LeasePlan Emirates, acquired through its BlueFive Reef PE Fund I from Ayvens, a sustainable mobility company. Solutions+, a wholly owned subsidiary of Mubadala Investment Company, retains the majority 51 percent stake. Established in 2006, LeasePlan Emirates operates a fleet of around 7,000 vehicles providing leasing and fleet management services to corporate, government and individual clients across the UAE. Financial terms were again not disclosed.

Together, the two mobility acquisitions give BlueFive exposure to a combined fleet of more than 15,000 vehicles in a region where fleet management and corporate leasing are expanding rapidly alongside economic diversification programmes.

An AI bet in sovereign data

On 16 June, BlueFive co-led a $60 million Series A round in CNTXT AI, a UAE-based data and artificial intelligence company, alongside AI71, Abu Dhabi's applied AI company. CNTXT AI develops sovereign AI solutions that enable organisations to build and deploy AI applications while retaining full control over their data, working with partners including Oracle, NVIDIA and Amazon Web Services. The capital will fund product development, expansion into new markets and the deployment of secure AI infrastructure for enterprise and government clients globally.

Ben-Gacem said BlueFive backed CNTXT AI because it was "building exactly the kind of technology-driven platform the region needs," in a statement issued with the round.

Who is Ben-Gacem?

Ben-Gacem, a Tunisian national, founded BlueFive Capital in November 2024, weeks after leaving Investcorp, where he had spent more than 30 years and served as Co-Chief Executive Officer from 2018 until September 2024. At Investcorp, he chaired most of the firm's private equity and infrastructure investment committees and oversaw its activities across the Middle East, South-East Asia, Japan and China.

He holds a bachelor's degree from Harvard University and in 2017 founded the Harvard Office in Tunisia, described as the first formal Harvard presence in the Arab world. Until 2022, he was a serving member of the Tunisian national shooting team in the 50-metre discipline, winning a bronze medal at the 2017 African Shooting Championships.

BlueFive Capital, incorporated in the Abu Dhabi Global Market, reported $4.4 billion in assets under management at the time of the LeasePlan deal in June 2026. The firm operates offices in London, Abu Dhabi, Dubai, Manama, Muscat and Beijing. Its BlueFive Reef PE Fund I, a $2 billion vehicle raised in 2025 and focused on the Gulf Cooperation Council, has been the vehicle for both the Massar and LeasePlan acquisitions. A separate Onyx Fund I, closed in early 2026 and targeting opportunistic technology and growth investments in the United States and Europe, is the instrument behind the CNTXT AI co-lead.

The four transactions follow a broader burst of activity that has included the launch of BlueFive Leasing, a dedicated aircraft leasing platform based in Muscat, announced in February 2026.