Jared Kushner seals inaugural Saudi investment in Israel.

Jared Kushner Secures First Saudi-Backed Investment in Israel

Former White House senior adviser Jared Kushner’s private equity fund has achieved a groundbreaking ‌milestone‍ by ​securing the first-ever Saudi Arabian-backed investment⁢ into Israel. This significant development comes as⁤ the U.S. government continues to foster normalized relations between these⁣ two‌ Middle Eastern countries.

Kushner’s Affinity Partners, supported by $2 ‌billion from Saudi Arabia’s sovereign ⁣wealth fund, will invest $150 million to acquire a 10 percent stake in the Israeli auto​ service company, Shlomo Group, as ​reported by Axios. During his tenure as White House ​senior adviser to his⁣ father-in-law,⁢ former President Donald Trump, ⁤Kushner played a pivotal role in implementing the Abraham Accords and facilitating ⁢the normalization of Israel’s relations with its​ neighboring countries. Following Trump’s ‍departure from office in 2020, ⁤Kushner launched his Miami-based equity firm.

“We are extremely optimistic about the long-term growth prospects of Israel and the ⁤broader new Middle East,” stated Kushner in a press release. “Shlomo’s consistent historical growth and the company’s numerous⁢ exciting opportunities in the future make ‌this‌ investment a strategic move.”

Continued⁣ Efforts for Normalization

The Biden administration has continued the normalization efforts initiated by its predecessor⁤ between Israel and Saudi Arabia. However, President Joe Biden’s approach⁤ may involve ‍additional concessions for‍ Israel. ⁣U.S. diplomats recently introduced a⁤ “U.S.-Saudi mutual security pact” that would require Israel to make ⁣concessions to the Palestinians, preserving the ⁣possibility of a two-state‍ solution, according to the New York Times. Biden is also considering​ a sideline⁤ meeting⁣ with Saudi Crown Prince Mohammed bin Salman ⁣at the upcoming G20 summit to discuss further​ normalization, as reported by Axios.

Expanding Investments

Affinity Partners is also reportedly⁣ in ⁢discussions for a $250 million investment ⁤in Israel’s Phoenix ‌Insurance Agencies, although the deal has‍ not yet been ‌finalized.