Riyadh - Sharikat Mubasher: Al Murjan Group, one of the leading family business groups in Saudi Arabia, forged a strategic partnership with the global investment platform BlueFive Capital to co-develop a global shariah-compliant asset management investment platform.
Under this partnership, BlueFive acquired a substantial minority stake in Sidra Capital, a leading Shariah-compliant asset manager specializing in private assets, while Al Murjan acquired a substantial minority stake in BlueFive786, BlueFive’s newly launched Shariah-compliant investment arm, a recent statement revealed.
As part of the deal, BlueFive will open an office in Riyadh to manage and undertake investments in Saudi Arabia, jointly alongside Sidra Capital.
Both Al Murjan Group and BlueFive Capital will have enhanced access to cross-border investment opportunities and institutional capital. Additionally, the partnership will support joint product development and co-branded investment vehicles, enabling institutional and private clients to access best-in-class Islamic investment strategies.
Commenting on this milestone, Taufiq Bahamdain, CEO of Al Murjan Group and board member at Sidra Capital, said: “By combining Sidra Capital’s established expertise and deep roots in the GCC with BlueFive’s innovative platform and access to Southeast Asia’s dynamic markets, we are creating a powerful conduit for cross-border ethical investment.”
He affirmed that the partnership is built on a shared commitment to integrity, performance, and expanding access to sophisticated, values-driven investment products for a global clientele.
For his part, Hazem Ben-Gacem, Founder and Chief Executive of BlueFive Capital, stated: “With Sidra Capital, we will look to redefine and shape the products and solutions that are today unavailable across Muslim-majority growth markets.”
It is worth noting that BlueFive786 will be headquartered in Singapore and will offer shariah-compliant investment products, such as retirement and savings schemes, to savers and retirees predominantly in the Southeast Asian countries, including Indonesia, Malaysia, Bangladesh, Brunei, and Singapore.