![]() Khashoggi and the humanitarian catastrophe created by the Saudi-led military intervention in Yemen.Īs Treasury secretary, Mr. ![]() He helped protect those and other weapons deals from congressional outrage over the murder of Mr. Kushner had also helped broker $110 billion in weapons sales to Saudi Arabia over 10 years. After leaving government, he set up a nonprofit to promote economic and other ties between the countries. He helped negotiate a series of agreements, called the Abraham Accords, opening diplomatic relations between Israel and other Arab monarchies. Kushner’s priorities while in the Trump administration. Prince Mohammed signaled that he favored closer relations between Israel and the Arab monarchs of the Persian Gulf, which was also one of Mr. Kushner developed a friendship and informal alliance with the Saudi crown prince. Many are major long-term investors in American real estate, and the Kushner family had courted them before. Kushner’s relationship with Prince Mohammed and other oil-wealthy Arab royals. His best-known deal was the $1.8 billion purchase of the office tower at 666 Fifth Avenue in Manhattan, in 2007 the building’s mortgage became a crippling liability when the recession hit the next year.ĭiplomats, investors and ethics experts noted during the Trump administration that his anticipated return to the family business injected a potential conflict of interest into Mr. Before working in the White House, he ran his family’s commercial real estate empire, sometimes with disappointing results. ![]() Kushner, whose fund has not publicly disclosed a theme or focus, has little experience or track record in private equity. But Prince Mohammed took control of the fund when he rose to power in 2015 and he is its paramount decision maker. Saudi officials say that the kingdom’s Public Investment Fund, which also holds stakes in the ride-sharing company Uber and the Newcastle United Football Club in Britain, operates autonomously, with an elaborate governance structure that includes the investment panel. No law or rules constrain the investment activities of former administration officials after leaving the White House many from both parties have profited from connections and experiences gained in government. The Saudi documents obtained by The Times say that in return for its investment, the Saudi fund would receive a stake of at least 28 percent in Mr. Most of that appears to be the $2 billion from Saudi Arabia. Kushner’s firm reported that its main fund had $2.5 billion under management, almost entirely from investors based overseas. In its most recent public filings with the Securities and Exchange Commission, dated March 31, Mr. ![]() But so far he appears to have signed up few other major investors. Kushner planned to raise up to $7 billion in all, according to a document prepared last summer for the Saudi fund’s board. Kushner’s venture depends primarily on the Saudi money. Those documents and other filings indicate that at this point Mr. Now, the internal fund records and correspondence obtained by The Times show the outcome, scale and timing of his firm’s deal as well as the debate it aroused. Kushner had been seeking a Saudi investment. If any additional discussions about the deal took place, they were not reflected in the documents and correspondence obtained by The New York Times. A spokesman for the Saudi fund declined to comment on its investment process.
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