BlueFive Capital Director Ashish Mehta will lead the firm’s new office in Muscat. «Mehta is a seasoned investment professional with extensive expertise in global markets and the GCC region. He will oversee operations in Oman and lead efforts to build strong partnerships with local institutions, family businesses, and international investors,» the company states on its website.

The move into the Sultanate was a logical step for BlueFive Capital, founded in late 2024, as Oman’s sovereign wealth funds are among the founding shareholders of the firm.

Modernisation for the post-oil era

Oman stands out as one of the most forward-looking economies in the GCC under the guidance of Vision 2040 – characterised by stable governance, a strategic location, and an ambitious vision for diversification and sustainable development. According to the International Monetary Fund (IMF), the Sultanate’s economy grew by 1.7 percent in 2024, up from 1.2 percent the previous year. The expansion of the manufacturing and services sectors helped offset the decline in crude oil prices, the IMF noted.

The Muscat office will serve as a hub for investment advisory, capital raising, and cross-border strategic partnerships, with a focus on key sectors under Vision 2040, including infrastructure, logistics upgrade, sustainable energy, and financial innovation. Initial efforts will concentrate on engaging local stakeholders and introducing global investors to high-impact opportunities. BlueFive’s presence in Oman complements its existing operations in GCC countries such as the UAE, Saudi Arabia, and Bahrain – creating a regionally integrated platform with global potential.

The new entity will operate under the name BlueFive Capital Majan. Majan is the ancient name for the Sultanate located in the southeastern part of the Arabian Peninsula.

Gulf Arab Insider

Hazem Ben-Garcm, founder and chief executive, BlueFive Capital, commented on the expansion: «Oman’s sovereign investment funds were among the early supporters of BlueFive Capital during the initial days of our formation. As joint partners, we aim to play an important role alongside Omani institutions and private sector players in supporting the country’s transformation goals and unlocking cross-border capital opportunities. This will be the mandate of our newly opened office in Muscat.»

Ben-Gacem brings over 30 years of experience in leading private equity investments across North America, Europe, the Middle East, Southeast Asia, and China. Until September 2024, he served as Co-Chief Executive Officer of Investcorp, which manages approximately 60 billion dollars in global alternative assets. He was also responsible for Investcorp’s private equity activities in Europe, the Middle East, Asia, and Japan.