Al Murjan Group and BlueFive Capital Join Forces to Develop Global Islamic Finance Platform
In an exciting strategic move, Al Murjan Group, a prominent family business group in Saudi Arabia, and BlueFive Capital, a global investment platform, have announced a cross shareholding partnership to co-develop a global platform for Islamic finance.
Reciprocal Ownership Stake
The partnership involves a reciprocal ownership stake in the Sharia-compliant asset management units of both stakeholders. BlueFive will acquire a significant minority stake in Sidra Capital, a leading Shariah-compliant asset manager specializing in private assets. On the other hand, Al Murjan Group Holding will acquire a substantial minority stake in BlueFive’s newly launched Shariah-compliant investment arm, BlueFive786.
Expansion to Southeast Asia
BlueFive786, headquartered in Singapore, aims to provide Sharia-compliant investment products, such as retirement and saving schemes, to customers in Southeast Asian countries like Indonesia, Malaysia, Bangladesh, Brunei, and Singapore.
Active in Saudi Arabia
As part of the partnership, BlueFive will establish an office in Riyadh and work alongside Sidra Capital in managing and undertaking investments in the Kingdom of Saudi Arabia.
Enhanced Access and Product Development
This collaboration will give both parties improved access to cross-border investment opportunities and institutional capital. It will also support joint product development and co-branded investment vehicles, allowing clients to access top-notch Islamic investment strategies.
Key Board Appointments
As part of the agreement, key figures from both organizations will join each other’s boards. This includes Hazem Ben-Gacem and Yasser Bajsair from BlueFive Capital joining the board of directors of Sidra Capital, and Taufiq Bahamdain and Shahid Shaikh from Al Murjan Group Holding joining the board of BlueFive786.
Shared Vision
Taufiq Bahamdain, CEO of Al Murjan Group, expressed excitement about the partnership, highlighting the shared commitment to delivering performance and expanding access to ethical investment markets globally. Hazem Ben-Gacem, Founder and CEO of BlueFive Capital, also expressed enthusiasm for the collaboration and the potential to shape Sharia-compliant investing in growth markets.
About the Companies
Al Murjan Group is a multibillion-dollar global conglomerate with operations across various sectors, including financial investments, real estate assets, and private equity investments. Sidra Capital, founded in 2009, is a Shariah-compliant asset manager with $3.6 billion in assets under management. BlueFive Capital, founded in 2024, targets opportunities in high-growth economies and has $2.6 billion in assets under management.
For more information about Al Murjan Group, visit www.almurjan.com
For more information about Sidra Capital, visit www.sidracapital.com
For more information about BlueFive Capital, visit www.bluefivecapital.com
