BlueFive, CICC Capital Plan Fund for Chinese Firms Eying Mideast

Abu Dhabi-based BlueFive Capital and the private equity arm of China International Capital Corp. are looking to set up a fund backing Chinese companies seeking to expand in the Middle East.

BlueFive and CICC Capital will negotiate terms on a non-exclusive basis, including fund structure, capital commitments and investment strategy, according to a statement on Tuesday. The vehicle will focus on new economy sectors such as technology, digital transformation, green energy and advanced manufacturing.

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The fund is intended to help Chinese ...