DUBAI, Oct 6 (Reuters) - Blackstone and Abu

Dhabi's Lunate plan to set up a platform that will target

investments in logistics assets in the Gulf region worth $5

billion, the two alternative investment managers said in a

statement on Monday.

Under a strategic partnership, the GLIDE platform will

target "high-quality warehouse assets", targeting mainly

greenfield developments and focusing on the Gulf Cooperation

Council alliance that comprises Bahrain, Kuwait, Oman, Qatar,

Saudi Arabia, and the United Arab Emirates.

It will also focus on selective portfolio acquisitions and

sale-and-leaseback transactions with leading regional

businesses, they said without providing more details.

Blackstone, the world's largest alternative asset manager

with $1.2 trillion under management, has been expanding its

investment in the Gulf, and last month acquired with private

equity firm Permira a $525 million minority stake in Dubai-based

classifieds firm Property Finder.

"The profound economic transformation underway in the GCC,

driven by pro-growth policies, favorable demographic shifts and

broad-based economic diversification, is creating powerful

momentum for sectors like logistics," Blackstone President and

Chief Operating Officer Jon Gray said in the statement.

GLIDE is expected to attract more strategic partners from

the region and will have dedicated teams there, supporting its

build-out, the two firms said.