Both the U.A.E. and Qatar have a history of hedging their bets on U.S. politics. The investments appear to be the latest indication that they want to maintain warm relations with prominent officials from the Trump administration — especially if Mr. Trump were to become president again — even as they work with the Biden administration.
But the investments reflect not just an eye toward the future in the U.S., but also an acknowledgment of their relationship with Mr. Kushner, who left the White House with an expansive network of contacts, and with whom they worked closely.
Affinity Partners makes only limited public disclosures, but the branch of the firm that handles money from Mr. Kushner’s overseas backers held $2.5 billion in capital on behalf of three different foreign investors, according to a financial filing dated last March. Updated disclosures, which are expected to be filed by Friday, are likely to show that Affinity Partners now manages roughly $3 billion, according to a person familiar with the matter.
As a top White House adviser to Mr. Trump while he was in office, Mr. Kushner was an active participant in American diplomacy in the Middle East and helped orchestrate a regional pact, the Abraham Accords, that normalized relations between Israel and several Arab countries, including the United Arab Emirates, in 2020.
During the final days of the Trump presidency, he played a role in discussions that helped lift an economic and diplomatic blockade of Qatar by its neighbors. The blockade, led by Saudi Arabia, had been imposed in 2017 at a time when Mr. Kushner was cultivating a relationship with Saudi Prince Mohammed bin Salman — who was about to become next in line to the throne in the kingdom.