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Jared Kushner, son-in-law of former US president Donald Trump, who served as his senior adviser, is making an attempt to lift cash from Gulf states for a brand new funding agency he just lately based, the New York Instances reported on Friday.
In accordance with the report, Kushner has discovered little success up to now. Qatari officers declined to put money into the agency, Affinity Companions, an individual conversant in the matter was cited as saying, as did the principle Emirati sovereign wealth funds.
Leaders of Qatar noticed Kushner as an opponent within the former US administration, the supply mentioned. UAE rulers noticed him as an ally, however query his enterprise monitor document, one other supply instructed the paper.
Nevertheless, the Saudi Arabian $450 billion Public Funding Fund is negotiating with Kushner over what may show to be a large funding in Affinity Companions, the 2 sources mentioned.
Kushner declined to debate the matter with the New York Instances. The report mentioned it was not clear which different traders he had spoken to up to now, each inside or exterior the USA.
Kushner hopes to lift an quantity within the low billions of {dollars} by early subsequent yr, the report mentioned, citing a supply conversant in the agency’s plans.
A common view of the Marina district towers is seen from the remark deck of ‘The View at The Palm Jumeirah,’ in Dubai, United Arab Emirates, April 6, 2021. (AP Picture/Kamran Jebreili)
Earlier this yr, it was reported that Kushner would additionally open an workplace in Israel that may promote enterprise ties between Israel, India, Gulf states, and North Africa.
Considered one of Kushner’s final acts as an adviser to Trump was main the brokering of normalization offers between Israel and the United Arab Emirates, Bahrain, Sudan, and Morocco.
A lot of Kushner’s emphasis whereas shaping his father-in-law’s Center East coverage was on peace nurtured by way of funding and financial improvement. It was a successful method with what he dubbed the “Abraham Accords,” however didn’t carry a couple of breakthrough in Israeli-Palestinian peace.
Kushner additionally took a number one position in working Trump’s campaigns in 2016 and 2020, however has signaled that he’s not going to be concerned in a potential Trump marketing campaign in 2024.
Kushner is a third-generation principal in a household actual property empire based by his grandfather, a Holocaust survivor.
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