Blackstone, the world’s largest alternative asset manager, has opened an office in the Dubai International Financial Centre (DIFC), adding a second UAE location to its longstanding Abu Dhabi base in ADGM.
The NYSE-listed firm said the Dubai office will be the regional hub for its Private Wealth business. It builds on partnerships with leading regional banks and more than 40 distributor relationships across the GCC. Blackstone has also upgraded its Abu Dhabi office licence, first secured in 2019, to strengthen deal origination in the region.
The firm has been in the UAE since 2010 and called the move an extension of that commitment. DIFC Authority CEO Arif Amiri said it shows Dubai’s role as a gateway for global investment firms. The opening follows Blackstone’s announcement earlier this year of a Kuwait office. DIFC-based family offices alone are estimated to oversee more than USD 1 trillion in assets.
Gulf Economist Staff Writer