Skip to content Skip to Search
Skip navigation

Jared Kushner’s private equity firm backed by UAE and Qatari funds

The UAE fund invested more than $200m with Kushner's Affinity Partners, while a Qatari entity put in an equivalent amount, the report said

Sovereign wealth funds from the UAE and Qatar invested millions of dollars in former US president Donald Trump’s son-in-law Jared Kushner’s private equity firm, according to a news report.

The UAE fund invested more than $200 million with Kushner’s Affinity Partners, while a Qatari entity put in an equivalent amount, the New York Times said, citing informed sources.

The investment from the UAE came through a sovereign wealth fund; however, the report said the Qatari investor’s identity was unclear.

Kushner founded the Miami-based Affinity Partners in 2021.

In June 2022, a US House of Representatives committee launched an investigation into a $2 billion investment by the Saudi government into Kushner’s firm, NBC News reported.

In a letter, chairwoman Carolyn Maloney told Kushner that her committee was looking into a Saudi sovereign wealth fund’s investment into Affinity.

She noted that Kushner created his investment firm the day after Trump left the White House in January 2021 and the Saudi government gave it the $2 billion six months later, the news outlet said.

In October 2022, UAE-based unicorn Emerging Markets Property Group (EMPG) completed a $200 million investment led by Affinity Partners.

EMPG owns leading UAE classifieds platforms Bayut and Dubizzle, along with several platforms across emerging markets focused on Mena, south and southeast Asia.

Affinity received commitments of more than $3 billion by the end of 2021 to invest in US and Israeli companies that are expanding in India, Africa, the Middle East and other parts of Asia.

Latest articles

A tourist with an arabian foal at Alhazm stud, Khubash, Saudi Arabia. 106m tourists visited the kingdom last year

Saudi Arabia hits tourism target seven years early

More than 106 million tourists visited Saudi Arabia last year, surpassing the kingdom’s 2030 target and prompting it to set a new goal of welcoming 150 million annual visitors by the end of the decade, according to the Ministry of Tourism. Achieving the milestone target of the Vision 2030 economic roadmap seven years early cements […]

Asked about reports the IMF loan could rise to $12bn, managing director Kristalina Georgieva said: 'There is nothing wrong in thinking big'

IMF expects bigger loan deal for Egypt within weeks

The International Monetary Fund expects a financing package for Egypt to be finalised within weeks, its chief said on Tuesday – while also entertaining speculation that the loan could rise to $12 billion. Speaking on the sidelines of a G20 finance meeting in Brazil, IMF managing director Kristalina Georgieva told Reuters that issues delaying the […]

Ericcson and Turkcell signed the 6G agreement at Mobile World Congress in Barcelona

Ericsson and Turkcell to lead 6G research in Turkey

Swedish telecom company Ericsson and Turkish operator Turkcell will begin advancements on research and development of 6G in Turkey. The sixth-generation wireless network will use higher frequencies than its predecessor 5G and provide substantially higher capacity and much lower latency. The advent of 6G networks holds promise of faster connectivity in various sectors including wireless […]

Olam Group said the regulatory framework for listing on the Saudi stock exchange is still being worked out

Olam delays Saudi listing of agriculture unit

Olam Group, which has its headquarters in Singapore, has ruled out listing its agricultural unit on the Saudi stock exchange in the first half of 2024. CEO Sunny Verghese said in August that the company was targeting the dual listing in Singapore and Saudi Arabia in the first half of 2024, which could raise up to […]