The commitments from Abu Dhabi-based Lunate and the Qatar Investment Authority, which Bloomberg News reported in December, provided a $1.5 billion boost, which was announced Thursday in a regulatory filing with the U.S. Securities and Exchange Commission.
Another $287 million was generated as a result of profits (including dividends and net of fees collected) from investments in companies such as EGYM, Phoenix Financial Ltd. and QXO Inc.
Jared Kushner, 44, founded his investment firm after his father-in-law Donald Trump's first term in the White House. About 99% of the assets in the funds managed by Affinity are held by investors from other countries, the statement said.
Affinity also has a long position in Tel Aviv-based Phoenix Financial, which it acquired for 37.5 shekels per share. Phoenix shares closed Dec. 31 at 53.18 shekels, up 42%.
Affinity's bet on QXO under Brad Jacobs also paid off. The company agreed to invest $9.14 per share in July, and the stock closed at $15.90 by the end of 2024 — a 74% gain.
Source: Bloomberg
