Late last month, Blackstone Inc. announced the first inbound Gulf private equity deal since Iran started attacking Middle Eastern hubs, while Citigroup Inc.’s top boss fired off a 600-word memo underlining the bank’s enthusiasm for its business in the region.
Blackstone’s $250 million commitment, hailed as a “masterstroke” by an executive at a rival firm, and Jane Fraser’s note came just as the United Arab Emirates’ carefully-cultivated image of safety and stability was facing a test.
Despite those “near-term headwinds,” Blackstone sees significant opportunity to deploy capital at scale in the UAE, the firm’s President and Chief ...
