Before giving US$2.73 bil to Jared Kushner's firm, Saudi investment fund had big doubts

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NEW YORK - Six months after leaving the White House, Jared Kushner secured a US$2 billion investment from a fund led by the Saudi crown prince, a close ally during the Trump administration, despite

objections from the fund's advisers about the merits of the deal.

Ethics experts say that such a deal creates the appearance of potential payback for Kushner's actions in the White House - or of a bid for future favour if Trump seeks and wins another presidential term in 2024. A spokesperson for Kushner's firm said of its relationship with the Saudi Public Investment Fund,"Affinity, like many other top investment firms, is proud to have PIF and other leading organisations that have careful screening criteria, as investors."

Kushner planned to raise up to US$7 billion in all, according to a document prepared last summer for the Saudi fund's board. But Robert Weissman, president of nonprofit group Public Citizen, called Kushner's relationship with the Saudis"extremely troubling," arguing that his stance toward the kingdom's leadership as a senior adviser"makes the business partnership appear even more to be both a reward to, and an investment in, Kushner."

Before working in the White House, he ran his family's commercial real estate empire, sometimes with disappointing results. Crown Prince Mohammed signaled that he favoured closer relations between Israel and the Arab monarchs of the Persian Gulf, which was also one of Kushner's priorities while in the Trump administration.

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