Blackstone Commits $250 Million to UAE Firm Despite Iran War

Blackstone Inc. has made one of the first inward private equity investments into the United Arab Emirates since the onset of the Iran war, committing $250 million to a new payments infrastructure platform based in Abu Dhabi.

The buyout giant is investing in Advanced Digital Gaming Technology, a venture aiming to build payments and compliance infrastructure for regulated digital markets globally, according to a statement Thursday. ADGT is valued at about $1 billion, according to people familiar with the matter, who requested anonymity to discuss confidential matters.