Blackstone, Lunate team up to launch $5B investment platform

Blackstone, the world’s largest alternative asset manager, is joining forces with Abu Dhabi’s Lunate to launch a $5 billion logistics investment platform across the Middle East.

The new venture, called GLIDE, will focus on developing new “Grade A” logistics assets and evaluate selective acquisitions and sale-and-leaseback transactions, the investment firms said on Monday.

Lunate is an Abu Dhabi-backed alternative investment manager founded in 2023 that oversees over $110 billion in assets. “This partnership combines global scale with regional expertise to unlock a market ready for transformation,” Lunate Managing Partner Khalifa Al Suwaidi said.

Jon Gray, Blackstone’s President and Chief Operating Officer, said the venture will capitalize on Lunate’s growing presence in the Gulf.

“The profound economic transformation underway in the GCC, driven by pro-growth policies, favorable demographic shifts and broad-based economic diversification, is creating powerful momentum for sectors like logistics,” Gray said.

Aldar Properties to co-invest with Carlyle on European real estate

ABU DHABI, United Arab Emirates – Aldar Properties is continuing its foray outside the Middle East with a $111 million co-investment with private equity firm The Carlyle Group in logistics and storage assets across Europe.

Aldar will join the Carlyle Europe Realty platform, the investment firm’s pan-European real estate portfolio, as part of the deal.

Abu Dhabi’s largest listed developer, which is 25% owned by Mubadala and 26% owned by International Holding Co., also unveiled this week a $1.4 billion investment plan to develop a range of income-generating assets in Abu Dhabi.