The Affinity fund, led by Jared Kushner, is selling a 25% stake in the Israeli insurance company Phoenix for approximately $1.05 billion, months after becoming its largest shareholder, according to reports.
The Affinity fund, headed by Jared Kushner — son-in-law of former US President Donald Trump — is selling a quarter of its holdings in the Phoenix insurance company, one of Israel's largest, for about $1.05 billion. The fund had previously become Phoenix's largest shareholder, though the exact timeline of that acquisition was not specified in the report. The sale represents a significant partial exit from the Israeli insurance sector.
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