Jared Kushner raises $3 billion for Middle East investment firm

During the Trump administration, White House adviser Jared Kushner touted overseeing deals in the Middle East as his achievements. Months after leaving Washington, Kushner was able to raise $3 billion for his investment firm that will also focus on the Middle East.

Last week, Reuters reports that Kushner was able to bring over $3 billion in committed funds for his Miami-based investment firm Affinity Partners. Kushner launched the company in July. The former White House adviser is looking to invest in companies in the US and in the Middle East that are seeking to expand globally months after deciding to step away from the political scene.

While the names of the investors were not disclosed, this follows a report last month by the New York Times that revealed Kushner’s efforts to raise money from the same Persian Gulf monarchies he worked with during his time as his father-in-law’s adviser. The newspaper noted that Kushner forged a friendship with Saudi Arabia’s crown prince and oversaw deals between Israel and the United Arab Emirates.

At the time, NYT reported that Kushner had mixed success in his fundraising efforts. This was because while some Emirati leaders saw Kushner as an ally, they were skeptical about his business track records. However, the Saudi Arabian kingdom’s $450 billion Public Investment Fund was reportedly negotiating with Kushner over a potential investment in his firm.

The NYT also noted that aside from Kushner, former Treasury Secretary Steven Mnuchin has also received investments from the Middle East, such as Saudi Arabia, Qatar, and the Emiratis. Other former Trump administration officials have also sought to raise money from the Middle East.

Kushner, along with his wife and fellow White House adviser Ivanka Trump, have also sought to make their return amongst the high society crowd following their departure from Washington. The couple was recently criticized for attending a Louis Vuitton fashion show that served as a tribute to the late designer Virgil Abloh. Abloh died of cancer on November 28, with the fashion brand holding a tribute show two days later on November 30 titled “Virgil Was Here,” as Abloh was the brand’s artistic director of its menswear collections.

Many netizens criticized the couple’s attendance, as both remain associated with the now-former president’s statements and policies.