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Affinity Partners
Affinity Partners is an American investment firm based in Miami, Florida. It was formed in 2021 by Jared Kushner, Donald Trump's son-in-law, who also served as a senior advisor during Trump's first presidency. The firm has a focus on investing in American and Israeli companies. Its sources of funding are overwhelmingly from the Saudi Arabian government.
Kushner's firm received commitments of more than $3 billion by the end of 2021 to invest in American and Israeli companies that are expanding in India, Africa, the Middle East and other parts of Asia. The largest investor by some margin is the Saudi government's sovereign wealth fund, the Public Investment Fund, which has allocated $2 billion to the firm. Officials who headed the Public Investment Fund objected to investing in Kushner's firm, but Saudi ruler Mohammed bin Salman overruled those officials.
The firm is fully owned by Jared Kushner and has a staff of approximately 20 people. By 2024, the firm had returned no profits to its investors. The firm has been controversial due to conflicts of interests arising from Kushner soliciting funds from Middle Eastern governments while also working as an envoy for the second Trump administration.
Kushner sought funds for the new company from the sovereign wealth funds of Gulf countries. Those funds provided the vast bulk of funds actually secured by Affinity, with only minor stakes contributed by US nationals. By far the biggest investor was the Saudi government's Public Investment Fund, which invested $2 billion in Kushner's firm, six months after Kushner left the White House. Kushner has stated that he hopes to open an "investment corridor between Saudi Arabia and Israel", seen internationally as a "sign of warming ties between two historic rivals".
The firm still primarily depends on Saudi money. As of April 2022[update], it had $2.5 billion in assets under management.
In a May 2022 interview with The Wall Street Journal, Kushner said: "If we can get Israelis and Muslims in the region to do business together, it will focus people on shared interests and shared values." He added, "we kicked off historic regional change which needs to be reinforced and nurtured to achieve its potential."
The fund has invested in two undisclosed Israeli hi-tech companies The Wall Street Journal reported that "it is the first known instance that the Saudi Public Investment Fund's cash will be directed to Israel, a sign of the kingdom's increasing willingness to do business with the country."
In March 2022, Affinity executives heard pitches from 13 to 15 Israeli startups.
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Affinity Partners
Affinity Partners is an American investment firm based in Miami, Florida. It was formed in 2021 by Jared Kushner, Donald Trump's son-in-law, who also served as a senior advisor during Trump's first presidency. The firm has a focus on investing in American and Israeli companies. Its sources of funding are overwhelmingly from the Saudi Arabian government.
Kushner's firm received commitments of more than $3 billion by the end of 2021 to invest in American and Israeli companies that are expanding in India, Africa, the Middle East and other parts of Asia. The largest investor by some margin is the Saudi government's sovereign wealth fund, the Public Investment Fund, which has allocated $2 billion to the firm. Officials who headed the Public Investment Fund objected to investing in Kushner's firm, but Saudi ruler Mohammed bin Salman overruled those officials.
The firm is fully owned by Jared Kushner and has a staff of approximately 20 people. By 2024, the firm had returned no profits to its investors. The firm has been controversial due to conflicts of interests arising from Kushner soliciting funds from Middle Eastern governments while also working as an envoy for the second Trump administration.
Kushner sought funds for the new company from the sovereign wealth funds of Gulf countries. Those funds provided the vast bulk of funds actually secured by Affinity, with only minor stakes contributed by US nationals. By far the biggest investor was the Saudi government's Public Investment Fund, which invested $2 billion in Kushner's firm, six months after Kushner left the White House. Kushner has stated that he hopes to open an "investment corridor between Saudi Arabia and Israel", seen internationally as a "sign of warming ties between two historic rivals".
The firm still primarily depends on Saudi money. As of April 2022[update], it had $2.5 billion in assets under management.
In a May 2022 interview with The Wall Street Journal, Kushner said: "If we can get Israelis and Muslims in the region to do business together, it will focus people on shared interests and shared values." He added, "we kicked off historic regional change which needs to be reinforced and nurtured to achieve its potential."
The fund has invested in two undisclosed Israeli hi-tech companies The Wall Street Journal reported that "it is the first known instance that the Saudi Public Investment Fund's cash will be directed to Israel, a sign of the kingdom's increasing willingness to do business with the country."
In March 2022, Affinity executives heard pitches from 13 to 15 Israeli startups.