Affinity had deployed $1.1 billion but reported no investment return
Reporting and findings
- reported
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%.
- U.S. Senate Committee on Finance: Wyden Investigation of Kushner Firm Continues; New Letter Outlines Affinity Partners' Fee StructureJuly 2024 performance figures and fee table; $1.1 billion deployed, no ROI or earnings distributions, and investor fee rates
Summary and current status
The Senate inquiry distinguished capital deployed, management fees, and earnings returned to investors.
No ROI or earnings distributions reported to the committee as of July 2024
People and organizations
- Donald J. Trumpfather-in-law who appointed Jared Kushner as a White House senior adviser
- Affinity Partnersinvestment manager
- Public Investment Fund of Saudi Arabialimited partner receiving reported preferential fee rate
- Jared Kushnerson-in-law, former senior adviser, and Affinity Partners founder
Relationships in this file
- Public Investment Fund of Saudi Arabiapaid reported 1.25% management-fee rateAffinity Partners
- Donald J. Trumpson-in-law, former senior adviser, and Affinity Partners founderJared Kushner
Money trail
investmentCapital deployed by Affinity$1,100,000,000 - Reported investor / source
- Affinity Partners funds
- Reported investment recipient
- Portfolio companies