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 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. Investors include $2 billion from the Saudi government's sovereign wealth fund, Public Investment Fund, with Kushner stating that he hopes to open an "investment corridor between Saudi Arabia and Israel",[1][2] seen internationally as a "sign of warming ties between two historic rivals".[3] Officials who head the Public Investment Fund objected to investing in Kushner's firm, but Saudi ruler Mohammed bin Salman overruled those officials.[4]
The firm has a staff of approximately 20 people.[5]
Kushner sought funds for the new company through the sovereign wealth funds of Gulf countries.[6][7] The Saudi government's Public Investment Fund invested $2 billion in Kushner's firm, six months after Kushner left the White House.[8]
The firm primarily depended on Saudi money. As of April 2022[update], it had $2.5 billion under its management.[8]
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."[9]
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The fund has invested in two undisclosed Israeli hi-tech companies.[10][2]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.[11]
In July 2023, it was announced that Affinity was the primary backer in Munich-based fitness technology company EGYM's £225 million Series F funding round. The investment represented Affinity's first European investment. [12]
In March 2024, Affinity began advanced discussions with Aman Resorts to build an eco-resort community off the coast of Albania.[13]
According to ethics experts, the investment created the appearance of potential payback for Kushner, given that he had been a staunch defender of Saudi crown prince Mohammed bin Salman while at the White House.[8] The House Oversight Committee said on June 2, 2022, that it had opened an investigation into whether Kushner had traded on his government position to get the deal.[14]
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