Kushner seals first Israeli deal

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Photo illustration: Shoshana Gordon/Axios. Photo: Tasos Katopodis/Getty Images

Jared Kushner's private equity fund, which he launched after President Trump left the White House in 2021, has done its first Israeli deal, Axios Pro Rata author Dan Primack reports. Why it matters: Miami-based Affinity Partners is backed by $2 billion from Saudi Arabia's sovereign wealth fund. This is believed to be the first Saudi-sponsored investment in an Israeli company. House Democrats are turning up the heat on Kushner over Affinity and its ties to foreign governments, including Saudi Arabia, Qatar and the United Arab Emirates. During the Trump administration, Kushner's policy portfolio included Middle East diplomacy. Another member of the Trump White House, former Treasury Secretary Steven Mnuchin, also raised a private equity fund backed by Saudi Arabia, but has not invested in Israel. Affinity is investing $150 million for a 10% stake in the auto services unit of Shlomo Group. Shlomo began in 1974 as a small car rental outfit, and later began offering an array of services to corporate auto fleets — leasing, roadside aid, maintenance. Keep reading ...