Bugatti's New Era: Porsche Exits as BlueFive Capital Drives In

LONDON – April 24, 2026 – In a landmark deal reshaping the landscape of ultra-high-performance automobiles, Porsche AG has announced the complete divestment of its equity stakes in Bugatti Rimac and Rimac Group. The shares are being acquired by a consortium led by New York-based HOF Capital, with the newly formed global investment powerhouse BlueFive Capital serving as its largest investor.

The transaction marks a definitive strategic pivot for Porsche and ushers in a new chapter for the iconic Bugatti brand, which will now fall under the full control of Rimac Group. Porsche, which held a 45% stake in the Bugatti Rimac joint venture and a 20.6% stake in Rimac Group, will exit completely upon the deal's completion, expected before the end of 2026.

"In setting up the joint venture Bugatti Rimac together with Rimac Group, we successfully laid the foundation for Bugatti’s future," said Dr. Michael Leiters, CEO of Porsche AG. "Now, with the sale of our stake, we are focusing Porsche on the core business."

The new ownership structure is poised to accelerate the evolution of the French hypercar marque. Mate Rimac, the visionary founder and CEO of Bugatti Rimac, expressed enthusiasm for the future. "Porsche has been a crucial partner, and we are deeply grateful for their role in establishing Bugatti Rimac," he stated. "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."

The consortium's largest investor, BlueFive Capital, views the acquisition as a long-term commitment to a legendary brand. "Bugatti is a monument to automotive obsession, born from Ettore Bugatti’s pursuit of beauty and performance combined," commented Hazem Ben-Gacem, Founder and Chief Executive of BlueFive Capital. "BlueFive Capital approaches this opportunity as more than simply a financial transaction, and we look forward to working alongside the entire Bugatti Rimac team to honor that legacy for generations to come."

Porsche's Strategic Retreat to Core Operations

Porsche's decision to divest is a calculated move to sharpen its focus and reallocate capital towards its primary objectives. The sale comes as the German automaker navigates a complex market and refines its long-term "Strategy 2030 Plus." This strategy emphasizes strengthening its core luxury sports car business amidst significant financial headwinds.

In 2025, the company reported a stark 93% decline in operating profits, with margins shrinking from 14.1% to just 1.1%. This downturn was attributed to a combination of weaker demand in China, U.S. tariff impacts, and cost pressures associated with its ambitious electrification plans. The divestment, whose financial terms remain confidential but is estimated by industry observers to be valued at over $1.2 billion, provides a significant injection of capital at a critical time.

Under the leadership of CEO Dr. Michael Leiters, who took the helm at the start of the year, Porsche has been recalibrating its product roadmap. While still committed to an electric future—with a goal for 80% electrification by 2030—the company is adopting a more pragmatic approach in the near term. Plans for certain all-electric models have been adjusted, and the lifespan of its profitable combustion engine and plug-in hybrid models will be extended into the 2030s. For instance, a new flagship SUV planned to sit above the Cayenne, originally slated to be all-electric, will now launch with conventional and hybrid powertrains.

This strategic pivot requires immense capital for both continued R&D in internal combustion technology and the rescheduled development of a new EV platform. Selling its stake in the capital-intensive hypercar venture allows Porsche to streamline its portfolio and concentrate resources on navigating its own complex transition, ensuring the long-term health of its iconic models like the 911 and the all-electric Taycan.

Full Control for Rimac, A Future Reimagined

For Bugatti Rimac, the departure of Porsche and the arrival of new strategic investors signal the beginning of an era of enhanced autonomy and accelerated innovation. With Rimac Group gaining full control, Mate Rimac is now positioned to fully implement his vision for the two distinct brands under his purview.

He has indicated a clear differentiation in strategy: the Rimac brand will continue to push the boundaries of all-electric hypercar performance, catering to a niche of technology-focused enthusiasts. Bugatti, meanwhile, will undergo a more measured evolution. To preserve the visceral experience and heritage associated with the name, its path to full electrification will begin with hybrid powertrains. This approach respects the brand's legacy while gradually introducing next-generation technology, with a heavy emphasis on bespoke customization for its elite clientele.

Rimac Group is uniquely positioned to execute this dual strategy. The company is a technological powerhouse, designing and producing over 70% of its vehicle components in-house at its new €200 million state-of-the-art campus near Zagreb, Croatia. This vertical integration provides unparalleled control over development cycles and innovation. Beyond building its own hypercars, Rimac Technology has become a crucial Tier-1 supplier, providing advanced battery systems, drivetrains, and engineering solutions to major global automakers, a business unit that generates substantial revenue and validates its technological supremacy.

With the company reportedly exceeding its 2025 revenue targets and its new strategic partnership with HOF Capital and BlueFive Capital, Rimac Group has the operational momentum and financial backing to propel both brands to new heights.

The New Capital Reshaping the Hypercar World

The transaction shines a spotlight on the new financial forces entering the exclusive world of ultra-luxury automotive investment. The consortium is led by HOF Capital, a New York firm with over $10 billion in assets and a history of backing transformative companies like Anthropic and SpaceX. An investor in Rimac since 2022, HOF Capital will now become the largest shareholder alongside Mate Rimac, signaling deep confidence in his leadership and vision.

However, the most notable new player is BlueFive Capital. Founded in November 2024 by Hazem Ben-Gacem, a 30-year private equity veteran who previously co-led Investcorp, the firm has made a dramatic entrance onto the global stage, already amassing $15 billion in assets under management. Incorporated in Abu Dhabi and with a global footprint, BlueFive targets high-impact opportunities in both emerging and mature markets.

For a firm so young to take the lead role in a transaction of this magnitude is a powerful statement of intent. It reflects a broader trend of sophisticated, well-capitalized investment platforms from the Middle East seeking to acquire and nurture iconic Western brands. Ben-Gacem's track record of generating significant returns in European private equity adds substantial weight to the firm's strategic involvement. This acquisition is not a passive investment but a strategic partnership, combining Bugatti's century-old legacy with Rimac's futuristic technology and the formidable financial power of a new generation of global investors. The combined strength of this new alliance is set to redefine the pinnacle of automotive engineering and luxury for years to come.