DUBAI, July 10 (Reuters) - Blue Five Capital announced on Thursday it has successfully raised $2 billion for a new fund focused on private equity investments in the Gulf Cooperation Council (GCC) region.

The Blue Five Reef Private Equity Fund will target majority and minority stakes in "large, high-growth companies and conglomerates" in the UAE and the wider GCC, which includes Saudi Arabia and Qatar.

The asset management firm said the fund is registered in the Abu Dhabi Global Market and will focus on the healthcare, technology, hospitality, aviation, and industrial sectors.

The company was launched by Hazem Ben-Gacem, former co-CEO of Investcorp Alternative Investments, last November.

Earlier this week, the company announced it had successfully closed a seed investment round, bringing its assets to $120 million and managing over $650 million in assets.

It has offices in Abu Dhabi and other cities, including London, Riyadh and Beijing.

"The fund will play a pivotal role in expanding the private equity market in the GCC and will enable us to partner with exceptional founders and management teams to support the establishment of leading global companies originating in the GCC," Bin Qassim said.

The growing interest in GCC assets reflects the growing appetite of global investment firms, including major acquisition groups, for the region as governments there seek to diversify their economies away from oil.

Several private equity groups, including BlackRock-owned GIP, Permira, and General Atlantic, have recently opened offices in the region or strengthened their presence there.

(Prepared by Sherine Abdel Aziz for the Arabic edition - Edited by Rehab Alaa)