Blackstone’s Gray Sees Tipping Point for Deals Boom in Mideast

Blackstone Inc.’s Jon Gray sees a “tipping point” for deals in the Middle East, as global buyout firms increasingly deploy capital in the region and add headcount.

“The big change that’s been taking place is that investors like us are coming to the region and now looking actively at deploying capital,” Gray, Blackstone’s president and chief operating officer, said in an interview. “You still have your investor meetings, but now you’re also having investment meetings.”

In recent months, the private equity giant has unveiled a $3 billion partnership with Saudi artificial intelligence firm Humain, a $5 billion logistics venture ...