Tiny Red HandsBack

Affinity had deployed $1.1 billion but reported no investment return

Date
2024-09-25
Entry type
private-equity-performance
Current status
No ROI or earnings distributions reported to the committee as of July 2024

The Senate inquiry distinguished capital deployed, management fees, and earnings returned to investors.

Entities and roles

Relationships in this file

  1. Public Investment Fund of Saudi Arabiapaid reported 1.25% management-fee rateAffinity Partners
  2. Donald J. Trumpson-in-law, former senior adviser, and Affinity Partners founderJared Kushner

Money trail

  1. investmentCapital deployed by Affinity$1,100,000,000
    Reported investor / source
    Affinity Partners funds
    Reported investment recipient
    Portfolio companies
    reported · 2024-07-31 · observedPopulation Affinity Partners investment capital deployed by July 2024Period 2021-01-01 to 2024-07-31Basis Use the deployed-capital figure stated in the committee's September 2024 letter.Limits Deployed capital is not revenue, profit, or investor return; the committee reported no ROI or earnings distributions as of the measurement date.Open cited evidence

Claims and evidence

  1. analysisreported

    The Senate Finance Committee said Affinity Partners had deployed $1.1 billion by July 2024, generated no return on investment, and had not distributed any earnings to investors by that date; it also said the Saudi Public Investment Fund paid a 1.25% management fee while some other investors paid nearly 2%.