Carlyle Crossing the Red Sea

Private equity managers are running out of buyout options in the US. This explains why so many of them are scurrying abroad. The latest example is Carlyle’s plan to blaze a trail in the Gulf. It’s opened an office in Dubai and said it plains to hire 15 new executives to help find acquisitions in the Middle East and North Africa. Looking for acquisitions in this oil-soaked region sounds mad. When one thinks of a place where assets are undervalued and in need of some private equity loving, Dubai ...