BlueFive Capital, a global investment platform, has been appointed as the inaugural General Partner (GP) of a Fund of Funds established by CICC Capital, the private equity arm of China International Capital Corporation (CICC), in partnership with Chinese steelmaker HBIS Group.
The Fund of Funds will deploy capital through a combination of fund investments and direct investments aligned with HBIS Group’s strategic industrial priorities. These include both traditional sectors and emerging industries such as advanced materials, new energy and next-generation information technology.
HBIS Group is among the world’s largest steel materials manufacturers and service providers and has been listed in the Fortune Global 500 for 17 consecutive years.
The fund is targeting RMB 32 billion (USD 4.58 billion) in commitments with a 15-year term and will pursue investments consistent with HBIS Group’s industrial strategy, including cross-border opportunities.
It is structured around three core pillars: industry–finance integration, central–local government cooperation and cross-border connectivity.
This framework is intended to create a new bridge linking local governments, international capital and industrial development. BlueFive Capital will work alongside leading industrial and financial institutions, as well as local partners, to support the fund’s long-term operational success.
The fund was officially inaugurated last month at a ceremony held at HBIS Group’s R&D centre, attended by Sheikh Mubarak Al-Sabah, Vice Chairman of BlueFive Capital; Chen Liang, Chairman of CICC; and Liu Jian, Chairman of HBIS Group.
