Affinity Partners invests in Phoenix Holdings: Second deal in Israel within a year

Affinity Partners, the private equity firm led by Jared Kushner, has acquired a stake worth $128.5 million in the financial services firm Phoenix Holdings. This transaction marks the second deal by the Saudi-backed firm in Israel within a year. The Miami-based company is initially acquiring a 4.95% stake in Phoenix Holdings from the investment firms Centerbridge Partners and Gallatin Point Capital. According to a statement on Tuesday, Affinity Partners has also agreed to acquire an additional 4.95% stake, subject to approval by the Israeli regulatory authority. This move underscores Affinity Partners' growing engagement in the Middle East and the increasing significance of Israel as a destination for international investments. The stakes are intended to contribute to further diversification of the company's portfolio and to optimally leverage the growth potential in the region.