American Investors Sink More Money Into Dubai, Middle East

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As head of the Carlyle Group, David M. Rubenstein is a regular at power lunches along the New York-Washington corridor.

But he recently had his midday meal in Dubai, in the United Arab Emirates, 6,847 miles from the Washington headquarters of his private equity firm, with the Persian Gulf on one side and a desert on the other.

Mr. Rubenstein and other American financiers have long traveled to the Middle East in search of energy dollars to finance deals in the United States. Carlyle, in fact, has been one of the more aggressive in courting Mideast investors.

These days, as Dubai and its neighbors have begun to invest aggressively outside the Persian Gulf, American investors, in turn, have begun investing in the region -- and some of the money is coming from American pension funds.

Read the whole story at New York Times