A private equity firm founded by Jared Kushner, son-in-law of US President Trump, bought an 8% stake in British lender OakNorth. Affinity Partners, Kushner’s firm, has investments from Saudi Arabia, Qatar, and UAE. The deal value is unclear, but OakNorth was valued at $2.8 billion in 2019. OakNorth reported a profit of $291.5 million last year.

Sky News reported Affinity acquired the stake from an unidentified investor. OakNorth, founded in 2015, has assets over 7.5 billion pounds and operates in the US since 2023. The firm lent over 2.1 billion pounds to customers in 2024, including F1 Arcade and Ultimate Performance. CEO Rishi Khosla is optimistic for 2025 despite challenges.

Trump’s business ventures are under scrutiny, with talks of the US government investing in Intel. OakNorth supplies its technology to lenders globally. SoftBank, a backer of OakNorth, did not comment on the deal. Kushner’s firm, Affinity Partners, declined to comment on the investment in OakNorth.

Read more at Yahoo Finance: Jared Kushner’s firm buys 8% stake in UK lender OakNorth, source says