The Dubai International Financial Centre (DIFC) has reported the opening of Blackstone’s regional private wealth office, giving the alternative asset manager a second location in the United Arab Emirates (UAE). The office will serve as a hub for its private wealth business across the Gulf Cooperation Council (GCC).
The expansion builds on Blackstone’s presence in the UAE since 2010 and its partnerships with regional banks. The firm’s private wealth business has established more than 40 distributor relationships across the region, providing a network for its expansion across the GCC.