Blackstone plans to grow its Gulf-region assets to three to four times their current level by the end of the decade, CEO Steve Schwarzman said. The firm deployed more capital in the region in the past 12 months than in any other period in its history. It sees the Gulf’s long-term investment appeal as intact despite recent conflict.
Schwarzman expects a major construction and infrastructure boom after the conflict with Iran is resolved, as Gulf nations seek to protect and expand critical infrastructure. Blackstone is positioning itself to invest in that growth.
The firm is shifting from primarily raising capital in the region to investing in digital infrastructure, technology and real estate. Recent investments include a $5 billion logistics platform with Abu Dhabi’s Lunate.