Investments from the United Arab Emirates and Qatar drove the significant rise in the assets of Affinity Partners, the investment fund founded by President Donald Trump’s son-in-law, Jared Kushner. Over the course of 2024, the fund’s assets grew from $3 billion to $4.8 billion, a regulatory filing released Thursday showed.
The fund's filing with the US Securities and Exchange Commission (SEC) revealed that contributions from Abu Dhabi–based asset manager Lunate and the Qatar Investment Authority, the sovereign wealth fund, accounted for a $1.5 billion increase in Affinity’s assets during the year.
A source quoted in a Bloomberg report published Friday said that an additional $287 million was generated from gains, including dividends, from investments in such companies as corporate wellness platform EGYM, Tel Aviv–based financial services group Phoenix Financial Ltd., and Connecticut-based tech firm QXO Inc.
Why it matters: Kushner founded Affinity Partners after Trump’s first term in the White House came to an end, in 2021. The filing reveals that nearly 99% of the assets in funds managed by Affinity are attributable to investors outside the United States.
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