Jared Kushner’s Affinity Partners is acquiring a $150 million minority stake in an Israeli car company, marking the first investment in Israel for the Miami-based private equity firm that is backed by Saudi Arabia’s sovereign wealth fund.
Affinity will buy a 15% stake in the closely held S Shlomo Holdings Ltd’s car and credit division, it said in a filing on Wednesday.
Affinity did not seek approval for the deal from any of its limited partners, including the Saudi Public Investment Fund controlled by the country’s Crown Prince Mohammed bin Salman, according to people familiar with the matter, who asked not to be identified because they were not authorized to discuss the terms.
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