{
  "id": 19624913,
  "title": "Blackstone opens DIFC office to boost wealth management business in the Gulf",
  "url": "https://urgent.news/2026/11/12/blackstone-opens-difc-office-to-boost-wealth-management-business-in",
  "topic": "world",
  "section": "World",
  "published": "2026-11-12T08:20:43.000Z",
  "source": {
    "name": "The National UAE",
    "slug": "the-national-uae",
    "url": "https://www.thenationalnews.com/business/markets/2026/11/12/blackstone-opens-difc-office-to-boost-wealth-management-business-in-the-gulf/"
  },
  "original_language": "en",
  "account": "Blackstone, the world's largest alternative investment manager, has bolstered its wealth management presence in the UAE by opening an office in the Dubai International Financial Centre (DIFC). This new outpost will act as the regional hub for the company, which manages nearly $1.4 trillion in assets, aiming to attract wealthy individuals, institutions, and family offices to grow its Gulf wealth management business. Jon Gray, Blackstone's president and chief operating officer, highlighted the UAE's growing importance as a global finance and investment hub. The company has been active in the UAE since 2010, and Gray emphasized that the DIFC office strengthens their existing commitments, providing deeper partnerships and broader access to alternative investment options for investors. This move expands Blackstone's reach across the oil-rich Gulf region and the broader Middle East, complementing their presence in Abu Dhabi's financial centre, ADGM. The private wealth business at Blackstone aims to leverage partnerships with leading banking institutions in the region, having already established over 40 distributor relationships. With the Gulf region's rapidly growing wealth management market, Blackstone is the latest global investor to establish a base in the UAE, joining others in capitalizing on the area's expanding opportunities. Despite geopolitical challenges, Blackstone has committed more capital to the Gulf region in the past year than ever before, and plans to continue investing, as CEO Steve Schwarzman stated last month, despite the ongoing US-Iran conflict. Blackstone has already upgraded its Abu Dhabi office licence to increase deal origination in the region, and has plans to open an office in Kuwait, with further expansion across the region anticipated in the coming year.",
  "summary": "Blackstone , the world’s largest alternative investment manager, has expanded its footprint in the UAE with the launch of a wealth management office in Dubai International Financial Centre. The new outpost in Dubai’s onshore financial centre will serve as the regional hub for the nearly $1.4-trillion investor , which looks to court the wealthy, as well as institutions and family offices, to boost…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}