Investment firm Jared Kushner Affinity raises $ 3 billion in committed funding

WASHINGTON, Dec.23 (Reuters) – Jared Kushner’s global investment firm Affinity Partners has raised more than $ 3 billion in funding from international investors, a person familiar with the effort told Reuters on Thursday. Fund raising.

Kushner, a former senior official to former President Donald Trump, married to his daughter, Ivanka, formed Miami-based Affinity Partners last summer after deciding to retire from politics and began fundraising in autumn.

Kushner plans to invest in US and Israeli companies seeking international expansion opportunities in India, Africa, the Middle East and other parts of Asia.

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Kushner’s company has received pledges of more than $ 3 billion, the source said, adding that he plans to continue fundraising efforts over the next few months to close them and add possible additional pledges.

Information on specific investors was not disclosed, but Affinity was targeting U.S. institutions and foreign investment institutions, including sovereign wealth funds and high net worth individuals.

Affinity hopes to close its first deal in the first quarter of 2022, the source said.

The company has hired around 20 people, including private equity veterans Bret Perlman and Asad Naqvi, and plans to focus on investments based in the United States as well as the Middle East.

At Trump’s White House, Kushner helped negotiate deals between Israel and the United Arab Emirates, Bahrain, Sudan and Morocco in a six-month surge last year. He also helped negotiate a new trade deal between the United States, Mexico and Canada.

He played a leading role in the failure of Trump’s re-election campaign in 2020, but avoided Trump’s false allegations of voter fraud. Kushner tried to distance his stepfather from fringe right-wing social media platforms after Trump was kicked from Twitter following the deadly January 6 riot.

Kushner hopes to create an “investment corridor” between Israel and Saudi Arabia, working with Israeli and Gulf companies and investors, the person said.

He has also written a book on his White House experience which is expected to be published by HarperCollins in 2022.

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Reporting by Steve Holland; Editing by Heather Timmons and Sonya Hepinstall

Our Standards: Thomson Reuters Trust Principles.

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