Kushner’s Affinity’s property bounce to $4.8 billion after Gulf money injection

LONDON (Reuters) -Jared Kushner’s funding firm Affinity Companions noticed property underneath administration bounce 60% final 12 months to $4.8 billion, in keeping with a regulatory submitting, after it acquired a money injection from Center East buyers together with Qatar’s sovereign wealth fund.

Kushner, son-in-law of U.S. President Donald Trump, launched the funding agency in 2021 after leaving the White Home on the finish of President Donald Trump’s first time period, when he was a prime adviser on the Center East.

Affinity secured $1.5 billion of additional capital in 2024 from two of its current buyers – Abu Dhabi-based Lunate and Qatar’s sovereign wealth fund the Qatar Funding Authority – Kushner instructed an funding podcast in December.

He mentioned the elevated capital would give the fund “extra firepower” and had been closed earlier than Trump was re-elected for a second time period.

That injection helped carry its property underneath administration to $4.8 billion by the top of 2024, up from $3 billion the prior 12 months, in keeping with filings with the U.S. Securities and Alternate Fee underneath the corporate identify A Fin Administration LLC.

The only proprietor of the corporate is Jared Kushner, the submitting mentioned.

Saudi Arabia has invested $2 billion in Affinity Companions, in keeping with congressional investigators.

(Reporting by Iain Withers, Modifying by William Maclean)