Hong Kong-based investment firm Blue Pool Capital has secured $1bn for its inaugural private equity fund, marking a significant milestone amid a challenging fundraising climate for the sector, according to a report by the Wall Street Journal.
The firm also manages the family office and operating assets of Alibaba co-founder Joe Tsai.
Led by CEO Oliver Weisberg, Blue Pool has been active in private equity for over a decade through a multi-strategy fund backed by Tsai, Weisberg, and several former Alibaba executives. Its prior investments include companies such as luxury sneaker brand Golden Goose, SpaceX, Epic Games, and ByteDance. One of its notable exits was the management company of private credit firm Blue Owl.
The new fund, Riverside, was established to pursue opportunities too large for Blue Pool’s multi-strategy vehicle. Weisberg and his team are among the largest investors in Riverside, which aims to invest in fast-growing consumer businesses globally.
For the decade ending 31 December 2025, Blue Pool’s private equity strategy within its multi-strategy fund delivered an estimated gross IRR of 55%, putting it in the top decile of funds launched in 2016, according to PitchBook data.
The firm’s fundraising comes amid a broader slowdown in private equity capital raising. Reduced distributions, high interest rates, and market volatility have caused many investors to reassess allocations to private equity.
Weisberg, who relocated to Hong Kong in the 1990s, previously worked at Goldman Sachs and Citadel, and negotiated Goldman’s early investment in Alibaba alongside Tsai and Jack Ma. Blue Pool manages $6.7bn in total assets, excluding Tsai’s family holdings, which include the Brooklyn Nets, New York Liberty, Barclays Center, and European vineyards.
