Blackstone, the world’s largest alternative asset manager, has opened an office in the Dubai International Financial Centre (DIFC), adding a second UAE location as it expands its reach across the GCC.
The office will serve as a regional hub for the firm’s Private Wealth business. It builds on Blackstone’s partnerships with leading regional banks and aims to broaden access to alternative investments for investors across the GCC. The Private Wealth business has already established more than 40 distributor relationships across the region.
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 centre for wealth management. He noted that the firm has had a presence in the country since 2010, and that the new Dubai office deepens that commitment.
Arif Amiri, Chief Executive Officer of DIFC Authority, said the opening reflects Dubai’s role as the gateway for global investment firms seeking opportunities across the region. He described DIFC as home to the region’s largest concentration of wealth and asset management firms and the preferred base for companies looking to strengthen relationships with GCC investors.
Amiri added that the growing presence of these firms underlines the increasingly important role private capital plays in supporting economic growth, investment and long-term value creation.
News Source: Emirates News Agency
