Blackstone plans fourfold growth in Gulf assets amid infrastructure spending boom
Blackstone has committed more capital to the Gulf region in the past 12 months than at any point in its history, and it plans to invest more despite geopolitical headwinds, its chief executive has said. Despite the months-long war , the investment appeal of the Gulf remains intact, Steve Schwarzman, who is also chairman and co-founder of the world's largest alternative asset manager, told The…
Blackstone, the world's largest alternative asset manager, plans to quadruple its investments in Gulf assets over the next decade, despite geopolitical challenges. CEO Steve Schwarzman, in an interview with The National, stated that the region's attractiveness remains intact despite the ongoing war. The investment giant managed $1.3 trillion in assets as of the previous year and aims to increase its presence in the Gulf within its broader Europe, Middle East, and Africa portfolio.
Over the past year, Blackstone has accelerated its investment pace in the Gulf region, with deals involving $16 billion in Kuwait's crude oil pipeline network, $250 million in Abu Dhabi's Advanced Digital Gaming Technology, and a $1.6 billion partnership with Dubai Aerospace Enterprise for aircraft leasing. Schwarzman believes the Gulf's role as a global capital exporter is reversing, with a surge in its own financing needs due to the region's maturation and growing infrastructure requirements.
Blackstone has already created a $5 billion logistics platform, Glide, in collaboration with Abu Dhabi's Lunate, and participated in a $525 million financing round for UAE property portal Property Finder. The company is expanding its presence in the Gulf, with offices in Abu Dhabi, Kuwait, and plans to launch private wealth operations in Dubai.
Despite the ongoing Iran conflict, Schwarzman remains optimistic about the region's growth prospects, citing the smart leadership and commitment to infrastructure expansion by Gulf nations.
Written by urgent.news from The National Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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