12 November 2026
Blackstone, the world’s largest alternative asset manager with nearly USD 1.4 trillion (about AED 5.1 trillion) in assets under management, announced the opening of an office in the Dubai International Financial Centre (DIFC) on 12 November 2026. It is the firm’s second location in the UAE, in addition to its long-standing base in Abu Dhabi. The Dubai office will serve as the regional hub of Blackstone’s Private Wealth business, which already has more than 40 distributor relationships in the region. In the same announcement Blackstone said it has upgraded its Abu Dhabi office licence to support deal origination and expects to expand further across the GCC over the coming year.
What Blackstone announced
Blackstone (NYSE: BX) made the announcement from Dubai on 12 November 2026. According to the press release, the DIFC office adds a second UAE location to the firm’s base in Abu Dhabi, which remains in place, and extends its reach across the GCC. The new office is built around Private Wealth, the business that offers Blackstone funds to individual investors through banks and wealth managers. The company says the office builds on its partnerships with leading regional banks and will support its growing private wealth business across the GCC.
The announcement confirms plans first reported in July 2026. At that time Reuters wrote, citing people familiar with the matter, that Blackstone was preparing an office in DIFC, while the company declined to comment on what it called speculation. We covered that report in Blackstone plans a Dubai return with a DIFC office. Less than four months later the office is official.
Key facts at a glance
| Item | Detail |
|---|---|
| Firm | Blackstone (NYSE: BX), the world’s largest alternative asset manager |
| Assets under management | Nearly USD 1.4 trillion (about AED 5.1 trillion) |
| New office | Dubai International Financial Centre (DIFC) |
| Announced | 12 November 2026 |
| Role of the office | Regional hub of the Private Wealth business |
| Distribution network | More than 40 distributor relationships in the region |
| Abu Dhabi | Office kept, licence upgraded to support deal origination |
| Kuwait | Office plans announced on 27 July 2026 |
| Presence in the UAE | Since 2010, according to Blackstone President Jon Gray |
Why the Dubai office is about private wealth
Blackstone’s Private Wealth business works through distributors. Banks, private banks and wealth managers place Blackstone funds with their clients. In the GCC this network already counts more than 40 distributor relationships. A hub in Dubai puts the Private Wealth team close to the banks and wealth managers it works with.
Jon Gray, President and Chief Operating Officer of Blackstone, said the UAE “is becoming an increasingly important center for wealth management”. He added that the firm has been present in the country since 2010 and that the Dubai office will allow it to deepen partnerships and broaden access to alternatives for investors across the GCC.
Arif Amiri, Chief Executive Officer of DIFC Authority, described DIFC as home to the region’s largest concentration of wealth and asset management firms and the preferred base for firms seeking to deepen relationships with investors across the GCC.
Abu Dhabi licence upgrade and the Kuwait office
The Dubai opening is one of several regional steps listed in the release. Blackstone said that, alongside record capital commitments over the past 12 months, it has upgraded its Abu Dhabi office licence to further support deal origination in the region. The company did not disclose the size of those commitments or the type of the new licence.
On 27 July 2026 Blackstone announced plans to open an office in Kuwait through the Kuwait Direct Investment Promotion Authority (KDIPA). At that time the firm expected the Kuwait office to open in the third quarter of 2026. The 12 November release refers to the Kuwait plans again but gives no update on the opening date.
Blackstone deals in the Gulf in 2026
The office news follows a run of transactions in the region. The table lists the deals reported by Blackstone, its partners and The National.
| Date | Deal | Amount |
|---|---|---|
| March 2026 | Led an investment in Advanced Digital Gaming Technology (ADGT), Abu Dhabi | USD 250 million (about AED 918 million) |
| April 2026 | Equator aircraft investment programme with Dubai Aerospace Enterprise (DAE) | About USD 1.6 billion a year (about AED 5.9 billion) |
| July 2026 | Investment with global partners in the Kuwait Oil Company crude oil pipeline network | USD 16 billion (about AED 58.8 billion) |
In an interview with The National published on 28 October 2026, Blackstone chairman and chief executive Stephen Schwarzman said the firm had deployed more capital in the Gulf over the past 12 months than at any point in its history. He said it would surprise him if its Gulf assets were not three to four times larger than current levels by the end of the decade, without disclosing the current figure.
DIFC in numbers
According to DIFC results for the first half of 2026, the centre had 10,018 active registered companies at the end of June 2026, after 2,318 new registrations over 12 months. Regulated financial services firms grew 16% to 1,134. The ecosystem includes 592 wealth and asset management firms, 327 banks and capital markets firms and 165 insurance and reinsurance entities. Family-related entities rose 36% to 1,408, and foundations rose 67% to 1,409.
Blackstone joins other global financial firms that chose DIFC in 2026. On 2 November 2026, for example, J.P. Morgan Private Bank announced a new DFSA-regulated branch in the centre, which we described in J.P. Morgan Private Bank opens a DIFC branch.
What it means for businesses in the UAE
For investors and family offices based in the UAE, the practical change is local: Blackstone’s regional Private Wealth team now works from Dubai, next to the banks and wealth managers that distribute its funds. Access to these funds still runs through a distributor, and each distributor sets its own client requirements.
For financial firms and advisers, the announcement shows a pattern used by large managers in the UAE: one office focused on investing and deal origination, and a separate office for distribution and client relationships. Smaller firms that plan a DIFC presence face the same practical steps on a different scale: a licence category, regulation by the Dubai Financial Services Authority (DFSA) for regulated activities, office space, visas and a corporate bank account.
How Atlant Capital can help
Atlant Capital supports entrepreneurs, investors and family businesses that set up in the UAE. Our company setup team compares DIFC, other free zones and the mainland for your activity, and our bank account opening service prepares the file that UAE banks review. For the full process, see our UAE bank account opening guide.
A short checklist before you choose a financial centre:
- Define whether your activity needs a regulated financial licence or a non-regulated company.
- Compare DIFC with other free zones and the mainland on permitted activities and annual costs.
- Prepare shareholder documents, proof of source of funds and a business plan for the bank.
- Plan residence visas for founders and staff.
- Check the office space requirements for your licence type.
Conclusion
Blackstone opened its DIFC office on 12 November 2026 as the regional hub of its Private Wealth business, which has more than 40 distributor relationships in the region. Abu Dhabi remains its base, now with an upgraded licence for deal origination. Kuwait office plans were announced in July, and the firm expects to expand further across the GCC over the coming year.
Source: Blackstone, Blackstone Opens Office in Dubai’s DIFC, Blackstone, Blackstone to Open Kuwait Office, The National.
FAQ
When did Blackstone open its office in DIFC?
Blackstone announced the opening of its office in the Dubai International Financial Centre on 12 November 2026. It is the firm’s second UAE location, in addition to its long-standing base in Abu Dhabi. Blackstone manages nearly USD 1.4 trillion (about AED 5.1 trillion).
What will Blackstone’s Dubai office do?
The DIFC office is the regional hub of Blackstone’s Private Wealth business, which offers its funds to individual investors through banks and wealth managers. This business already has more than 40 distributor relationships in the region.
Is Blackstone leaving Abu Dhabi?
No. Blackstone keeps its Abu Dhabi office and has upgraded its licence there to further support deal origination in the region. The Dubai office is an additional location focused on private wealth.
Where else is Blackstone expanding in the Gulf?
On 27 July 2026 Blackstone announced plans to open an office in Kuwait through KDIPA, then expected in the third quarter of 2026. In its 12 November 2026 release the firm said it expects to expand its presence across the GCC further over the coming year.
