Blackstone and Abu Dhabi's Lunate plan to set up a platform that will target investments in logistics assets in the Gulf region worth $5 billion, the two alternative investment managers said in a statement on Monday.
Under a strategic partnership, the GLIDE platform will target "high-quality warehouse assets,” targeting mainly greenfield developments and focusing on the Gulf Cooperation Council.
It will also focus on selective portfolio acquisitions and sale-and-leaseback transactions with leading regional businesses, they said.
"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," Blackstone President and Chief Operating Officer Jon Gray said in the statement.
GLIDE is expected to attract more strategic partners from the region and will have dedicated teams there, supporting its build-out, the two firms said.
Khalifa Al Suwaidi, Managing Partner at Lunate, said: “GLIDE will offer our clients and investors access to compelling investments in high-quality logistics assets and support the development of new infrastructure to drive growth across the GCC. This partnership combines global scale with regional expertise to unlock a market ready for transformation.”
