Trump’s son-in-law uses Saudi money to increase stake in Israeli insurance company Phoenix

The investment fund Affinity Partners of US President Jared Kushner’s son-in-law, which owns 4.95% of the shares of the Phoenix insurance company, will be able to increase its ownership stake to 9.9%.

According to Calcalist, the corresponding notice was transmitted by the capital market supervision department Affinity Partners and the sellers – the American funds Centerbridge and Gallatin, which own a controlling stake in Phoenix.

It should be noted that the main investors of the Affinity Partners fund are the UAE and Saudi Arabia, including money from the Saudi Kingdom’s Sovereign Fund.

Previously, Israeli regulators blocked attempts by entities from China and the UAE to acquire significant stakes in the Phoenix company.