Just months after leaving the White House in 2021, Jared Kushner secured a $2 billion investment from a Saudi crown prince-led fund, despite objections from the fund’s advisers about the deal.
A panel that screens investments for the Saudi sovereign wealth fund expressed concerns about Kushner’s new private equity firm, Affinity Partners. According to The New York Times, they cited issues like the firm’s inexperience, the possibility of the kingdom bearing most of the investment risk, unsatisfactory due diligence on the firm’s operations, an excessive asset management fee, and public relations risks due to Kushner’s previous role as a senior adviser to President Trump.
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However, the full board of the $620 billion Public Investment Fund, led by Crown Prince Mohammed bin Salman, overruled the panel. This deal raised ethical concerns, as it could be seen as kickback…
