Blackstone, the world’s largest alternative asset manager, announced the opening of an office in the Dubai International Financial Centre (DIFC), adding a second UAE location in addition to its longstanding base in Abu Dhabi and further expanding its reach across the GCC.
The Dubai office will serve as a hub for Blackstone’s Private Wealth business in the region, building on the firm’s partnerships with leading regional banks and supporting its growing private wealth business across the GCC.
Jon Gray, President and Chief Operating Officer of Blackstone, said: “The UAE has built an extraordinary position as a global finance and investment hub and is becoming an increasingly important center for wealth management. We are proud of our presence in the country since 2010. Our new Dubai office builds on that longstanding commitment, allowing us to deepen our partnerships and broaden access to alternatives for investors across the GCC.”
His Excellency Arif Amiri, Chief Executive Officer of DIFC Authority, said: “The opening of Blackstone’s regional Private Wealth office in DIFC reflects Dubai’s role as the gateway for global investment firms seeking to capture opportunities across the region. As home to the region’s largest concentration of wealth and asset management firms, DIFC is the preferred base for firms seeking to deepen relationships with investors across the GCC and contribute to the increasingly important role private capital plays in supporting economic growth, investment and long-term value creation.”
Blackstone’s Private Wealth business has established more than 40 distributor relationships across the region. The Dubai DIFC office will further support our growing private wealth business across the GCC.
Blackstone continues to expand its presence across the GCC, reflecting the growing importance of the region to the firm. Alongside record capital commitments over the past 12 months, Blackstone has upgraded its Abu Dhabi office licence to further support deal origination in the region. Earlier this year, the firm announced plans to open an office in Kuwait and expects to further expand its presence across the GCC over the coming year.
Source: Blackstone
