The latest mergers, acquisitions and other corporate actions in the wealth management sector.

BlueFive Capital, Al Murjan
BlueFive Capital has closed its acquisition of a substantial stake in Sidra Capital, a Saudi Arabia-based Shariah-compliant asset manager. Sidra Capital will be rebranded as BlueFiveSidra.

As part of the transaction, Al Murjan Group, one of Saudi Arabia’s most established and respected family business groups, whose shareholders also own Sidra Capital, closed its acquisition of a substantial stake in BlueFive786, the Shariah-compliant investment arm of BlueFive Capital.

Hazem Ben-Gacem, the founder and chief executive of BlueFive Capital, will chair both the investment committee and the executive committee of BlueFiveSidra, the firm said in a statement.

A global Islamic finance platform
BlueFive Capital and Al Murjan Group are partnering to launch a global Sharia-compliant asset management platform that will offer investment products to a large and underserved Muslim population across the GCC and Southeast Asia.

BlueFive786, which will be headquartered in Singapore, aims to offer Sharia-compliant investment products, such as retirement and saving schemes, to savers and retirees predominantly in the Southeast Asian countries of Indonesia, Malaysia, Bangladesh, Brunei and Singapore.

BlueFiveSidra and its subsidiaries, which manage $3.8 billion of assets in the Kingdom of Saudi Arabia and internationally, are regulated by the Saudi Capital Market Authority, the Dubai Financial Services Authority, and the Monetary Authority of Singapore. The firm’s revenue has grown more than 50 per cent since 2023, resulting in significant increases in net income year-on-year. The firm has consistently delivered strong performance, delivering an average return on equity of 15 per cent over the past five years, overperforming comparable asset managers in the kingdom.

Access to cross-border investment opportunities
The partnership will provide the BlueFive Group and Al Murjan enhanced access to cross-border investment opportunities and institutional capital, the firm continued. BlueFive will support Sidra Capital in its asset allocation and investment mandate. BlueFiveSidra is poised to benefit from BlueFive Capital's global reach and product offering, offering Saudi investors access to the BlueFive suite of products. These span private equity, infrastructure, real estate, leasing, insurance, and Islamic finance. In turn, the rebranded entity will provide BlueFive Capital’s international investor base access to Saudi Arabia’s high-potential economy via its deep local presence and regulatory licence.