Lunate Capital and Blackstone Group to invest $5bn in logistics assets across the Gulf Cooperation Council region.

Lunate Capital, an alternative investment manager, and Blackstone Group, an American multinational private equity, agreed to invest $5bn in logistics assets across the Gulf Cooperation Council region. Under the partnership, Blackstone, which is the largest private owner of logistics assets globally at over 1.2bn square feet, and Lunate, which has an extensive regional network and investment capabilities, will establish Gulf Logistics Infrastructure Development Enterprise (“GLIDE”) - a platform dedicated to the development, acquisition and management of Grade A logistics assets across the GCC. It is expected that additional strategic partners in the GCC will also participate in GLIDE, which will have dedicated teams across the region, supporting its build-out.