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Lunate invests in Jared Kushner’s PE firm: Abu Dhabi-based alternative asset manager Lunate Capital and the Qatar Investment Authority (QIA) invested an additional USD 1.5 bn in Affinity Partners, the private equity firm founded by Donald Trump’s son-in-law Jared Kushner, Bloomberg cited Kushner as saying on a podcast episode. It’s not clear how much Lunate and QIA each invested.
What we know: Lunate and QIA — existing investors in Affinity — committed to the extension following discussions Kushner held with investors earlier in February about potentially raising additional capital. The fresh funds bring Affinity’s total assets under management to USD 4.6 bn, ensuring Affinity does not need to raise capital during Trump’s four years in office to “avoid any conflicts,” Kushner claimed.
The investment extends the debut fund’s investment period by two years, to 2029. Investors appreciated that Affinity “went slow” during its first two years, which facilitated the extension, Kushner said.
Kushner was quick to dismiss the funds had anything to do with the US presidential elections. “I made very clear to them that in the event that Trump was elected, that they should not expect anything from me,” he said.
About Affinity: The private equity firm, whose investors also include Saudi Arabia’s Public Investment Fund, has committed over USD 2 bn for investments in companies including Dubai-based Dubizzle Group, and Brazilian fast-food operator Zamp, in which Affinity reportedly invested USD 200 mn alongside Mubadala Capital in April.
