Strategic View:
Blackstone and Abu Dhabi-based Lunate have launched a strategic club deal platform named GLIDE. Targeting $5 billion in assets, this joint venture will develop and acquire Grade-A logistics infrastructure across the GCC. The partnership leverages Blackstone’s global scale and Lunate’s regional access to capitalize on the Gulf’s e-commerce and supply chain boom.
Full Story:
In a definitive signal that the Middle East is pivoting from oil to logistics, global asset management titan Blackstone and Abu Dhabi’s Lunate have formed a powerhouse consortium to launch “GLIDE” (Gulf Logistics Infrastructure Development Enterprise). This $5 billion platform is designed to be the premier warehouse owner-operator in the region, focusing on Saudi Arabia and the UAE.
The structure of this club deal is a textbook example of “Global Capability meeting Local Access.” Blackstone, the world’s largest owner of logistics real estate (with 1.2 billion sq. ft. globally), brings the operational playbook and tenant relationships. Lunate, managing over $110 billion, provides the sovereign-level access to land banks and regulatory fast-tracks essential for development in the GCC. Together, they aim to build a portfolio that serves the rapidly modernizing supply chains of Amazon, Noon, and global 3PLs operating in the desert.
However, the GCC logistics market has historically been fragmented and dominated by local family offices. Consequently, GLIDE aims to institutionalize the asset class. The syndicate will not just buy existing assets but will fund massive greenfield developments to create “Grade A” stock, which is currently in severe shortage. By pooling their balance sheets, the partners can execute “mega-box” projects that are too capital-intensive for local developers.
Furthermore, this deal underscores a broader geopolitical trend: US capital is increasingly comfortable co-investing with GCC sovereign entities in “hard assets” like infrastructure, even as tech investments face scrutiny. For Lunate, partnering with Blackstone validates their status as a tier-1 global allocator. For Blackstone, it unlocks a high-growth emerging market without the execution risk of going it alone.
Why It Matters:
Logistics is the new “Digital Infrastructure” of the Middle East. This club deal proves that global GPs* need local sovereign partners to unlock the best land and permits. Expect GLIDE to become the primary exit route for smaller logistics developers in the region.
Source(s):
Blackstone and Lunate Launch $5B GCC Logistics Platform
