Saudi Arabia’s sovereign-wealth fund committed $2 billion to Jared Kushner’s Affinity Partners, agreeing to allow investment in Israeli firms for the first time.
Jared Kushner’s new private-equity fund plans to invest millions of dollars of Saudi Arabia’s money in Israeli startups, according to people familiar with the investment plan, in a sign of warming ties between two historic rivals. Affinity Partners, which has raised more than $3 billion, including a $2 billion commitment from the kingdom’s sovereign-wealth fund, has already selected the first two Israeli firms to invest in, these people said.