Tue. Dec 5th, 2023

Financial analyst Steven Rattner on Monday shared a pie chart displaying that each one however 1% of the $3 billion in investments in former President Donald Trump’s son-in-law Jared Kushner’s personal fairness agency Affinity Companions got here from overseas sources after he “spent a lot of his White Home tenure cozying up” to Saudi Arabia and Crown Prince Mohamed bin Salman. The Saudis invested $2 billion in Kushner’s fund whereas the United Arab Emirates and Qatar every added one other $200 million. About $625 million got here from different non-U.S. sources whereas solely $31 million got here from sources contained in the U.S. Rattner instructed MSNBC that he is “by no means seen this” in 40 years within the enterprise.

“I’ve by no means seen any person get two-thirds of their cash from a single investor. Often a single investor could be just a few p.c of the fund, could be 5 p.c, sometimes 10 p.c,” he stated. Whereas Kushner has employed some individuals for his fund, “I’ve seen nothing else about what he is truly finished with the cash,” Rattner continued.

“It’s regular to speculate this cash over a interval of a number of years, so I do not assume we are able to draw a agency conclusion but. However, once more, we’re going again to a man who’s an actual property man, and albeit, not a very good one at that, who’s immediately obtained $3 billion making an attempt to do personal fairness offers competing in opposition to individuals who’ve been on this enterprise for a very long time. And I would not, if I have been the Saudis, rely on making some huge cash from this any time quickly,” he stated, including: “U.S. personal fairness companies nonetheless increase the huge bulk of their cash from U.S. traders. That is extraordinary — unprecedented — I’ve by no means seen something prefer it.”

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