A $2 billion investment by a Saudi Arabian wealth fund in Jared Kushner’s private equity firm is the subject of an investigation by the House Committee on Oversight and Reform, according to a letter the committee sent to former President Trump’s son-in-law and White House adviser. The New York Times reported the investigation on Thursday.
In a letter requesting documents, committee chair Rep. Carolyn Maloney (D-N.Y.) writes to Kushner that the government wants to know “whether your personal financial interests improperly influenced U.S. foreign policy” during the Trump administration. The letter requests that Kushner turn over any communications he had with Crown Prince Mohammed bin Salman, who controls the Saudi Arabia Public Investment Fund (PIF).
“Your close relationship with Crown Prince bin Salman, your pro-Saudi positions during the Trump Administration, and PIF’s decision to fund the lion’s share of your new business venture — only six months after the end of your White House tenure — create the appearance of a quid pro quo for your foreign policy work during the Trump Administration,” the letter states.
The substantial Saudi investment into Affinity Partners, Kushner’s firm, has led to concerns from ethics experts. The firm’s parent company was incorporated on the first full day after Trump left office, Maloney notes in the letter. She also cites reports indicating that “PIF’s investment committee expressed significant concerns about the ‘inexperience of the Affinity Fund management’ and about your own limited experience in private equity.”
The Times reported last month that in the final weeks of the Trump administration, Kushner and former Treasury Secretary Steve Mnuchin sought Middle East funding for what seemed to be the Abraham Fund, a result of a 2020 peace agreement between the U.S., Israel and the UAE. However, according to the report, the money they raised ended up going to their own firms.
A spokesperson for Kushner offered a statement to the Times in response to the House committee’s activities. “While achieving six peace deals in the Middle East, Mr. Kushner fully abided by all legal and ethical guidelines both during and after his government service,” it said. “He is proud to be among many private sector stakeholders advancing connectivity between Americans, Israelis and Arabs to encourage continued regional progress.”
The committee has given Kushner two weeks to respond to its requests.