Kushner firm got hundreds of millions from UAE and Qatar

Kushner firm got hundreds of millions from UAE and Qatar

The New York Times reports:

Wealth funds in the United Arab Emirates and Qatar have invested hundreds of millions of dollars with Jared Kushner’s private equity firm, according to people with knowledge of the transactions, joining Saudi Arabia in backing the venture launched by former President Donald J. Trump’s son-in-law as he left the White House.

The infusion of money from interests in the two rival Persian Gulf monarchies reflects the continued efforts by Mr. Trump and his aides and allies to profit from the close ties they built to the Arab world during his presidency and the desire of leaders in the region to remain on good terms with Mr. Kushner as his father-in-law seeks the presidency again.

The Emiratis invested more than $200 million with Mr. Kushner’s firm, Affinity Partners, two people told about the transactions said. The U.A.E.’s embassy in Washington declined to comment. A Qatari entity invested a similar sum, according to two people with knowledge of that deal. A spokesman for the Qatari embassy in Washington declined to comment.

The investment from the U.A.E. came through a sovereign wealth fund, but the identity of the Qatari investor is unclear. An Affinity Partners official did not respond to an email seeking comment.

Top Emirati officials have a close relationship with Mr. Kushner, forged during the Trump administration. And the Kushner family has previously benefited from Qatari funds. A Qatar-linked company helped bail out the Kushners’ debt-ridden tower in midtown Manhattan, 666 Fifth Avenue, during the Trump presidency.

But despite these relationships, Emirati and Qatari officials were at first reluctant to invest in Mr. Kushner’s private equity fund, at least in part because of the political risks involved, according to people familiar with both governments’ internal deliberations. The Times previously reported that Qatari officials feared they would face unfavorable treatment if they turned down Mr. Kushner’s invitation to invest and Mr. Trump returned to power. [Continue reading…]

Comments are closed.