Blue Pool Capital Private Equity Fund Targets USD750m for First External Raise

Blue Pool Capital private equity fund ambitions are expanding as the Hong Kong-based family office of Alibaba co-founder Joseph Tsai launches fundraising for its first private equity vehicle open to external investors, with a target of USD750m.

The Riverside fund will pursue majority or minority stakes in mid-sized businesses valued at USD100m to USD1bn across high-end retail, fintech, digital banking, payments, and AI-enabled software.

The move marks a strategic shift for Blue Pool from managing mainly internal capital to building an external asset management franchise, as global investors cautiously rebuild exposure to Chinese assets.

Alongside the Blue Pool Capital private equity fund raise, the firm is seeking USD500m for its Harborside fund-of-funds strategy investing in hedge funds and private credit.

Blue Pool oversaw more than USD50bn in assets in 2022 and continues to grow its alternatives platform through targeted mid-market dealmaking and multi-strategy expansion.