Jared Kushner’s private equity firm has received hundreds of millions of dollars from the United Arab Emirates and Qatar, according to a New York Times report, following a previous $2bn investment from Saudi Arabia for the venture launched soon after the former President. Donald Trump’s son-in-law has left the White House.
The report said on Thursday that a sovereign wealth fund in the UAE invested more than $200m in Affinity Partners, while an unnamed Qatari entity invested a similar amount. MEE contacted the Emirati and Qatari embassies in Washington for comment but did not receive a response.
The reported investments appear to reflect ongoing efforts by Kushner and other senior members of the former Trump administration to profit from the close ties they developed with the Middle East during his presidency.
Kushner has developed a close relationship with a number of senior figures across the Middle East, including Saudi Arabia’s Crown Prince Mohammed bin Salman, also known by his initials MBS, with whom he has corresponded for years via email, text messages, and other forms of contact, according to a previous report by the New York Times.
During his time in the Trump administration, the Saudi royal family donated two swords and a dagger worth nearly $48,000, which he paid the US government for after he left office.
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In 2021, he founded the Abraham Accords Institute for Peace, which will focus on boosting trade and tourism between the four Arab states and Israel.
Six months after leaving the Trump administration, Kushner received a $2bn investment from Saudi Arabia’s sovereign wealth fund, led by Crown Prince Mohammed bin Salman.
The investment came despite objections from advisers to the Saudi Public Investment Fund, who noted the “inexperience” of the fund’s management.
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But despite these relationships Kushner has built, Emirati and Qatari officials were initially reluctant to invest in his private equity fund, in part because of the political risks associated with the investments, people familiar with the internal discussions said. of his government to the New York Times.
Former US officials have used their status in government for years to sign lucrative contracts with Gulf nations. This has been criticized by some US legislators, but there are few laws to end it.
In October 2022, two investigations conducted by the Washington Post found that hundreds of retired American military officers used their military backgrounds to land lucrative deals working for foreign countries, mainly among Gulf monarchies such as Saudi Arabia and the UAE. At least 280 military retirees have sought authorization to work for the UAE, either as military contractors or consultants.
In June of the same year, the House Committee on Oversight and Reform launched an investigation into Kushner’s business in the Middle East.
In a letter, Congresswoman Carolyn Maloney requested documents on the $2bn investment from Saudi Arabia in Affinity Partners.