Kushner’s GCC partners invest in Israel firm linked to defence
Saudi Arabia, the UAE and Qatar have invested in an Israel company linked to the country’s military via their involvement with US President Donald Trump’s former Senior Advisor and son-in-law Jared Kushner’s investment fund, according to the Middle East Eye and agencies.
The link comes from a $150m stake from Kushner’s Miami-based Affinity Partners — purchased in the auto services unit of Israel’s Shlomo Group. Though the fund’s interests also extend into construction, real estate, and shipbuilding.
Kushner launched Affinity Partners after the end of Trump’s presidency in 2021 — raising questions as to the speed with which he was able to build his $3bn fund.
Kushner played a key role in advising Trump on Middle East policy and pushing for the Abraham Accords — under which the UAE normalised ties with Israel. He has been vocal about encouraging the removal of Gaza’s population, also claiming that waterfront property in Gaza “could be very valuable.”
None of the states that signed the Abraham Accords — Morocco, Bahrain or the UAE — have severed ties with Israel.
READ: Trump calls Israel to “finish up the war ” in Gaza
Meanwhile, Jordan denied allegations that it has allowed Israel to bypass the risk of attacks on shipping in the Red Sea by opening a land route in Yemen. Qatar maintains unofficial relations with Israel and has taken the lead — along with Egypt — in mediating between Hamas and Israel.
The unofficial ties between Doha and Israel have been stretched over Gaza, with Israel moving to ban Qatar’s government-funded Al Jazeera news network and Doha’s relations with Hamas.
Kushner worked on soft diplomacy between Israel and Qatar. In December, Axios reported that he arranged a lunch in New York City with the prime minister of Qatar and Jewish business leaders — including the outspoken antisemitism campaigner Bill Ackman. The head of Pershing Square Capital Management has invested heavily in Israel’s stock market amid the war in Gaza.
Shlomo Group’s parent company, Shmeltzer Holdings, also partly owns Israel Shipyards — the only domestic shipbuilder for Israel’s navy which constructs Sa’ar 4.5-class missile boats.
READ: US Democrat stalls Israel arms delivery to avoid “more death”
In an interview with The New York Times published on April 9th, Kushner said he didn’t invest in the naval part of Shlomo Group’s business. Though Asi Shmeltzer, the company’s chairman and member of the board of Israeli shipyards, mentioned that the Israeli company wants to extend the car leasing part of its business to the Gulf — eyeing Saudi Arabia.
Kushner has invested in a Dubai-based online real estate advertising company, a California-based solar lending site and a German gym equipment company using money from Gulf states. The fund’s biggest bet has been on Balkan tourism, with bets that could surpass over $1bn for a hotel and condominium complex in Serbia and luxury resorts on Albania’s Adriatic coast.
Saudi Arabia invested $2bn in Kushner’s fund under the direction of Crown Prince Mohammed bin Salman. The New York Times also reported that the United Arab Emirates and Qatar also invested $200m each. Though Kushner’s fund has been especially selective in deploying its capital. It has made just 10 investments to date, worth around $1.2bn — mainly overseas.
An Affinity Partners financial disclosure from March revealed that 99 percent of the firm’s funds were from foreign investors.
The Middle East Eye
