Blackstone Inc. has invested $250 million in an Abu Dhabi–based payments technology platform, signalling confidence in the region despite heightened geopolitical risks stemming from the Iran war.

Funds managed by the alternative asset manager have backed Advanced Digital Gaming Technology (ADGT), a payments and compliance technology provider for the commercial gaming market. ADGT was set up through a partnership between Blackstone, Abu Dhabi–based investment company Raya Holding, NRT Technology and Sightline Payments.

ADGT is the only licensed platform able to contract directly with both land based venues and online digital operators, enabling a unified payments experience for consumers and operators, a statement said on Thursday.

Jon Gray, President and Chief Operating Officer, of Blackstone, said: “We see significant opportunity to deploy capital at scale in the UAE to build companies that can grow both domestically and internationally, despite near term headwinds."

Blackstone, with $1.3 trillion in assets under management,  has had a presence in the UAE since 2010. Its investments in the country include GLIDE, a pan GCC logistics platform developed with Lunate, and Property Finder, the UAE’s leading real estate marketplace.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com