Jared Kushner’s new private equity fund has secured Saudi Arabia’s first investment in Israel, with plans to distribute tens of millions of dollars to two Israeli companies.
Affinity Partners, which raised more than $2 billion of a $3 billion fund from the kingdom of Saudi Arabia, will make the investment after Crown Prince Mohammed bin Salman and officials agree the fund can awarded to Israeli companies, the Wall Street Journal reported.
A source with knowledge of the deal told DailyMail.com that Kushner, a former White House adviser and son-in-law to former President Donald Trump, will pour tens of millions of dollars of the kingdom’s money into his startups. Israel to highlight the historic moment between the two countries.
Kushner told the WSJ: “If we can attract Israelis and Muslims in the area to do business together, that will focus people on common interests and shared values.
‘We have kicked off historic change in the region that needs to be strengthened and nurtured to reach its potential.’
Jared Kushner’s new private equity fund Affinity Partners has raised more than $2 billion of the $3 billion in funds from Saudi Arabia, led by Mohammed bin Salman. Kushner (right) poses with the prince in Saudi Arabia in 2017
Kushner is already providing tens of millions of dollars to two Israeli companies. It will be the first time money from the Saudi government will be invested in Israel, led by Prime Minister Naftali Bennett (pictured), as Kushner hopes it will open up diplomatic ties between the countries
The deal is seen as another victory for Kushner in the Middle East, who helped secure the Abrahamic Agreement two years ago to open up business relations between Israel and the United Arab Emirates.
While raising funds in Saudi Arabia, Kushner criticized the Saudi leadership and warned them that the country could lose what they call the ‘Silicon Valley of the Middle East’ to neighboring Arab nations. dispute, people familiar with the deal told the WSJ.
They added that in drafting the list of countries that would receive money from Saudi Arabia’s $600 billion Public Investment Fund (PIF), a board chaired by the prince, Saudi officials Saudi Arabia has agreed not to exclude Israel, a first since it began investing abroad. Entities.
Crown Prince Mohammed earlier said a large portion of the PIF would be used to develop a future city called Neom, which he hopes will gain the backing of Israeli investors.
Kushner thinks that the good and continued economic relationship between the two countries can also help open up diplomatic opportunities between the two countries.
“The more we can forge business relationships and introduce regional innovators to each other, the more we strengthen those who want to go down this new path, while also undermining our minds,” Kusher told the WSJ. weak people stuck in the old model”.
Kushner is said to have secured a deal with Saudi Arabia’s sovereign wealth fund, which also has stakes in Uber and Newcastle United Football Clubs and is run by the de facto leader of Saudi Arabia. The youngest Mohammed bin Salman is at the top (pictured: MBS, Kushner and his wife Ivanka Trump in May 2017)
After securing a Saudi investment to fuel his fund, Kushner and his team traveled to Israel in March to meet with dozens of companies seeking financial backing.
Kushner has yet to name the two companies he has decided General Partners will invest in.
Along with Saudi Arabia, Kushner is seeking to raise funds from Indonesia, the world’s largest Muslim-majority country, which currently has no diplomatic relations with Israel.
Kushner worked to broker a deal between the two nations during his tenure in the White House, but the deal didn’t come to fruition before Joe Biden took office.
Elie Wurtman, co-founder of PICO Venture Partners, who helped arrange meetings for Mr. Kushner and his team, told the WSJ.
