By Staff Writer
US alternative asset manager Blackstone is setting up an office in Kuwait through the Kuwait Direct Investment Promotion Authority (KDIPA) as part of a wider GCC expansion drive.
The $1.3 trillion asset manager said it expects the Kuwait office to open in Q3 2026, with plans to further expand its regional presence across the GCC with additional offices to be announced over the coming year.
Blackstone is also considering a second UAE office at the Dubai International Financial Centre, aside from its base in Abu Dhabi, Reuters reported.
The announcement comes a day after Kuwait Petroleum Corporation’s (KPC) unit Kuwait Oil Company (KOC) signed a $16 billion pipeline lease-and-leaseback deal with a consortium led by Blackstone, Brookfield and KKR.
(Writing by Bindu Rai, editing by Seban Scaria)