The transaction expands BlueFive's Sharia-compliant asset management presence into Southeast Asia.
The potential deal is reportedly comprised mostly of LP stakes in Asian private equity funds, including vehicles managed by EQT, TPG Asia, and KKR.
The continuation fund will reportedly have its largest exposure to TikTok's parent, ByteDance, alongside Ant Group.
The transaction will reportedly value the India-based D2C lifestyle brand at up to $521 million, more than 3x its last reported mark.
The investment is part of a broader strategic partnership to establish a cross-border Shariah-compliant asset management platform focused on the GCC and Southeast Asia.
Japan's largest trust bank also intends to explore a country-focused GP stakes strategy through its partnership with HPC.
The National Pension Service of Korea and Townsend Holdings have also increased their ownership in the Australian alternative asset manager.
The two managers have also entered a long-term strategic partnership under which Stable will manage and monitor the portfolio on behalf of the Australian firm.
The minority stake, acquired from Brookfield's private equity business, values the Australian alts manager at $2.1 billion.
Founded in 2002, CRC is a private credit manager that invests in bank capital strategies, mainly SRT transactions, that deliver non-dilutive capital solutions to European banks.
