Kushner’s Affinity Buys Into One of Israel’s Top Financial Firms

Jared Kushner’s Affinity Partners bought a $128.5 million stake in financial services firm Phoenix Holdings Ltd., marking the Saudi-backed company’s second deal in Israel in under a year.

The Miami-based private equity firm will buy a 4.95% stake in Phoenix from Centerbridge Partners and Gallatin Point Capital, according to a statement on Tuesday. Affinity also agreed to acquire a further 4.95% stake subject to approval from the Israeli regulator.

Jared Kushner

Photographer: Marco Bello/Bloomberg

Centerbridge and Gallatin Point control Phoenix’s biggest shareholder, Belenus Lux, which owns just over 31%, according to data compiled by Bloomberg. The firms are selling part of ...