Investment

Kushner investment firm ramping up activities with new hires – Reuters

Published

3 years ago

November 4, 2021

U.S. White House Senior Adviser Jared Kushner, who accompanied an Israeli delegation, speaks during a visit to Rabat, Morocco December 22, 2020. REUTERS/Shereen Talaat/File Photo

WASHINGTON, Nov 4 (Reuters) – Jared Kushner’s global investment firm, Affinity Partners, plans to add two senior partners and is seeking to raise several billion dollars as it begins to ramp up its activities, a person familiar with the plan said on Thursday.

Kushner, who was a top adviser to former President Donald Trump but has stepped away from politics for the time being, is expected to bring in two long-time private equity executives, Bret Perlman and Asad Naqvi, as senior investment partners, the person told Reuters.

Perlman spent 14 years at Blackstone (BK.N) before leaving to co-found Elevation Partners and has since been leading private investments for a family office.

Naqvi has long experience as a private equity investor, mostly recently as a senior partner at Apis, a global growth equity fund based in London.

The person, speaking on condition of anonymity, said the hires show Affinity Partners is ramping up its activities. Kushner based the firm in Miami, where he moved after Trump left office in January.

Affinity is expecting to raise several billion dollars “from a combination of American institutions, and investors as well as foreign investment institutions, including sovereign wealth funds and high net worth individuals,” the person said.

Kushner is hoping to invest in American and Israeli companies that are looking for international expansion opportunities in India, Africa, the Middle East and other parts of Asia, the person said.

At the Trump White House, Kushner helped broker deals between Israel and the United Arab Emirates, Bahrain, Sudan and Morocco in a six-month flurry last year. He also helped negotiate a new U.S.-Mexico-Canada trade agreement.

Kushner, who wants to work with Israeli and Gulf companies and investors to bolster investment between Israel and Gulf Arab countries, has already approached Saudi Arabia about creating “an investment corridor” between Israel and Saudi Arabia as a way to encourage investment between the two countries, the person said.

Reporting By Steve Holland; Editing by Steve Orlofsky

Our Standards: The Thomson Reuters Trust Principles.

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Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

4 days ago

October 16, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

1 week ago

October 11, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

1 week ago

October 10, 2024

Anne Joseph

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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