LONDON -Jared Kushner’s investment company Affinity Partners saw assets under management jump 60% last year to $4.8 billion, according to a regulatory filing, after it received a cash injection from Middle East investors including Qatar’s sovereign wealth fund.

Kushner, son-in-law of U.S. President Donald Trump, launched the investment firm in 2021 after leaving the White House at the end of President Donald Trump’s first term, when he was a top adviser on the Middle East.

Affinity secured $1.5 billion of extra capital in 2024 from two of its existing investors – Abu Dhabi-based Lunate and Qatar’s sovereign wealth fund the Qatar Investment Authority – Kushner told an investment podcast in December.

He said the increased capital would give the fund “more firepower” and had been closed before Trump was re-elected for a second term.

That injection helped lift its assets under management to $4.8 billion by the end of 2024, up from $3 billion the prior year, according to filings with the U.S. Securities and Exchange Commission under the company name A Fin Management LLC.

The sole owner of the company is Jared Kushner, the filing said.

Saudi Arabia has invested $2 billion in Affinity Partners, according to congressional investigators.

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