Blue Pool Capital, a Hong Kong-based multi-strategy investment firm managing wealth for investors including Alibaba co-founder Joseph Tsai, has raised about $1.4 billion for its debut private equity (PE) fund.
The fund, called Riverside, successfully blew past its initial target of $750 million in just a few months and reached a $1-billion fundraising milestone in March this year. The Financial Times first reported about the fund’s launch in November 2025, followed by a March report by The Wall Street Journal on the fundraising update.
As of August 11, it has secured approximately $1.4 billion in total commitments, according to the Maples Group. Lawyers based in the Maples Group’s Hong Kong office acted as Cayman Islands legal counsel for the formation and launch of the Riverside fund.
Led by ex-Citadel partner Oliver Weisberg, Blue Pool manages assets for Tsai and Tsai’s family office, Weisberg, the firm’s senior management members, and a group of the world’s most influential families. Alibaba founder Jack Ma has his own unaffiliated family office.
The firm invests globally in public equity, private equity, real estate, and private credit, with a portfolio spanning technology, media, sports, consumer products, industrials, and financial services. It has backed Elon Musk’s rocket company SpaceX, the Italian luxury sneaker-maker Golden Goose, “Fortnite” videogame developer Epic Games, and TikTok parent ByteDance.
The new Riverside fund is believed to signal the firm’s shift towards raising capital from outside investors as it seeks new avenues for growth and bigger PE deals.
Blue Pool began raising external capital more than two years ago to invest in hedge funds and private credit funds through its Harborside series.
A Bloomberg report last week said that the firm raised $300 million in the first close of its second Harborside fund in July, with a target to reach $500 million by the year-end. Sources said that the vehicle is attracting ultra-high-net-worth individuals and institutional clients as part of its broader push to bring in outside capital.
Blue Pool raised some $500 million for its first Harborside fund in 2024.
