Jared Kushner reportedly in talks to receive $2 billion investment from Saudi Arabia for private equity firm
Former White House adviser and Donald Trump’s son-in-law, Jared Kushner, has touted his visits to the Middle East over the years of Trump’s presidency as part of his achievements. A recent report has revealed that Kushner is in talks to receive a $2 billion investment into his new private equity firm by Saudi Arabia.
Project Brazen reports that Kushner’s Florida-based private equity firm Affinity Partners is in talks to receive at least a $2 billion investment from Saudi Arabia. The money for the investment would be coming from the Riyadh Public Investment Fund, the organization which Crown Prince Mohammad Bin Salman chairs. The amount in the investment is still to be determined but it is believed that it can go up to $5 billion.
While Kushner has not publicly commented on the reports, people familiar with the matter told the outlet that the former White House adviser is contemplating on how to limit the impact of having Saudi Arabia as a major investor on the company’s reputation. One of the ideas was to focus on raising the rest of the funds from traditional investors like pension funds and US asset managers in order to dispel the notion that he has been receiving money from the same Middle Eastern countries that he has done favors for prior to leaving Washington.
Sources have also told the outlet that Abu Dhabi is not planning to invest in Kushner’s firm in an attempt to dial down “politically exposed interactions” with the US following previous efforts under the Trump administration backfiring on them.
Nevertheless, this follows reports of former Treasury Secretary Steven Mnuchin setting up a $2.5 billion private equity fund also with money from Middle Eastern sovereign wealth funds.
In other news, Meghan McCain, the daughter of the late Arizona GOP Senator John McCain, touched on her father’s funeral. The late Arizona Senator died in 2018 and the Trump family was not invited to the funeral. However, Kushner and his wife, former White House adviser Ivanka Trump, were in attendance regardless, which Ms. McCain recently said she still feels upset about.
“They should never have come,” said the former “The View” host. “They had no business being there. I remember seeing them and seeing her specifically. They had no goddamn business being there and it’s still something that angers me clearly.”