Porsche has agreed to sell its entire stake in Bugatti Rimac and Rimac Group to a consortium led by New York-based HOF Capital, with Abu Dhabi-incorporated BlueFive Capital emerging as the largest single investor in the transaction announced on April 24, 2026.
The deal marks a clean exit for the German automaker from the joint venture it established with Rimac Group in 2021 to house the iconic Bugatti brand. Under that arrangement, Porsche held a 45 percent minority stake in Bugatti Rimac and a separate 20.6 percent stake in Rimac Group. Both positions are being fully divested.
Following completion of the transaction, Rimac Group is set to assume operational control of Bugatti Rimac and enter into a strategic partnership with HOF Capital and BlueFive Capital to support the brand’s long-term growth. HOF Capital will also join Rimac Group as its largest external shareholder alongside founder and Bugatti Rimac Chief Executive Mate Rimac. The deal is subject to regulatory clearances and is expected to close before the end of 2026. Financial terms were not disclosed.
The transaction arrives as Porsche faces significant financial pressure. The company’s profits fell by more than 90 percent in 2025, driven by a combination of US tariffs, declining demand in China, and a costly pivot toward electric vehicles that has yet to deliver expected returns. Chief Executive Dr. Michael Leiters framed the divestiture as a deliberate sharpening of the company’s strategic focus.
“Now, with the sale of our stake, we are focusing Porsche on the core business,” Leiters said. “We would like to thank Mate Rimac and his team for the constructive and trusting cooperation over the past years.”
Rimac welcomed the transition, describing Porsche’s contribution as foundational. “With the strong foundations their support has provided, we now have a structure that allows us to execute even faster on our long-term vision,” Rimac said.
BlueFive Capital, founded in late 2024 and led by Hazem Ben-Gacem, a veteran of the global private equity industry, positioned the acquisition as a long-term commitment to the Bugatti heritage rather than a purely financial play. “Bugatti is a monument to automotive obsession, born from Ettore Bugatti’s pursuit of beauty and performance combined,” Ben-Gacem said. “BlueFive Capital approaches this opportunity as more than simply a financial transaction.”
BlueFive Capital currently manages $15 billion in assets under management (AUM) and operates from offices in London, Abu Dhabi, Dubai, Manama, Muscat, and Beijing.
HOF Capital, which is co-founded by a member of Egypt’s Sawiris family, described the acquisition as a chance to support one of the most distinct brands in automotive history. “For over a century, Bugatti has stood apart as a brand where heritage and innovation coexist at the highest level,” said co-founder and managing partner Hisham Elhaddad.
