Kushner’s Affinity Partners first invested about $138 million in Phoenix in July 2024. Since then, the company’s share price has surged, its market value has increased fivefold, and its assets under management have grown from about $142 billion to about $184 billion.
The latest sale returned Affinity’s entire original investment while allowing the firm to remain Phoenix’s largest shareholder with a 7.4% stake. Affinity still owns nearly $1 billion worth of Phoenix shares and has also collected about $68 million in dividends.
Overall, Affinity’s investment has generated more than $1 billion in total gains in just two years, making it one of the firm’s biggest investment successes while remaining one of the largest shareholders in the Israeli financial giant.
Affinity said it plans to remain a long-term investor in Phoenix, while the buyers of the newly sold shares were also described as long-term investors, signaling continued confidence in one of Israel’s leading financial institutions.