Wyden probes Kushner firm for investment details

Wyden probes Kushner firm for investment details

Senate Finance Committee Chair Ron Wyden (D-Ore.) launched an investigation Wednesday into former President Trump’s son-in-law, Jared Kushner, and his investment firm, Affinity Partners, over details regarding its investments in Saudi Arabia.

In a letter to Affinity Partners Chief Financial Officer Lauren Key, Wyden said its concerning that several Middle Eastern governments, including Saudi Arabia, the United Arab Emirates and Qatar, are using funds managed by the company and creating “significant conflicts of interest and potential counterintelligence risks.”

“These arrangements also raise concerns that Affinity’s exclusively foreign funded private investment funds are being exploited as a loophole by Mr. Kushner and other former U.S. government officials as a means to avoid complying with the Foreign Agents Registration Act and other U.S. laws requiring U.S. persons to disclose payments form foreign governments,” Wyden wrote in the letter.

The chair is asking for the company to provide a list of all investors in funds managed by Affinity since its inception in 2021. For each investor, Wyden asked for Affinity to disclose the amount invested in funds it manages, total amount of fees the investment firm has been paid, and the annual rates of return, as well.

Building off a report by The New York Times that found Affinity disclosed that 99 percent of its assets were attributable to non-U.S. people or entities, Wyden is asking why that is the case.

One of Wyden’s asks specifically names Kushner, requesting the company detail how much Affinity paid him from 2021 to 2023, in not only salary but bonuses, other compensation, dividends and other distributions associated with the company.

The senator also asked for a list of all the shareholders and the number of shares each person owns, among several other requests he made.

During his time in the Trump administration, Kushner oversaw Middle East policy. He secured a $2 billion investment from Saudi Arabia six months after leaving the White House and has come under criticism for the potential political influence.

Kushner has defended himself and his firm’s action about the allegations of conflict of interest.

The Hill has reached out to Affinity and the attorneys representing Kushner for comment.

Copyright 2024 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

For the latest news, weather, sports, and streaming video, head to The Hill.