Jared Kushner’s Affinity Partners is acquiring a $150 million minority stake in an Israeli car company, marking the first investment in Israel for the Miami-based private equity firm that is backed by Saudi Arabia’s sovereign wealth fund.
Affinity will buy a 15% stake in the closely held S Shlomo Holdings Ltd’s car and credit division, it said in a filing on Wednesday.
The investment comes as the Biden administration seeks to broker a deal that would see Saudi Arabia establish diplomatic ties with Israel. The two countries have no official relations and direct investment by the kingdom in Israeli-linked companies is rare, though some of their businesses have covertly worked together through intermediaries for years.
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