When the absence of official diplomatic relations is no obstacle: Saudi and Qatari billions back Kushner's stake in Israeli insurance giant.

When the absence of official diplomatic relations is no obstacle: Saudi and Qatari billions back Kushner’s stake in Israeli insurance giant.

Affinity Partners, Jared Kushner’s investment fund (Trump’s son-in-law), is set to become the largest shareholder in the Israeli insurance company Phoenix. The fund is expected to receive regulatory approval today to acquire an additional 4.95% stake in the company (adding to its existing 4.95%), bringing its total ownership to 9.9%.

What’s most intriguing is the source of funding for Kushner’s fund: approximately $2 billion was raised from the UAE, Saudi Arabia, and Qatar (!). This was known to Israeli authorities, who must approve the deal.

With regulatory approval granted, Qatar and Saudi Arabia – via Kushner’s fund – will effectively become the largest shareholders in an Israeli insurance company.

Quite remarkable, isn’t it?

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When the absence of official diplomatic relations is no obstacle: Saudi and Qatari billions back Kushner’s stake in Israeli insurance giant.

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