Kushner’s Middle-East Investments Under Congressional Scrutiny

On a Monday, Rep. Robert Garcia, ranking member of the House Oversight Committee, sent a formal letter to Affinity Partners, the private-equity firm run by Jared Kushner. The request was made public during a Committee hearing on March 4.

CNN

Kushner has served as an informal peace envoy for the Trump administration, a role formalized at the inaugural Board of Peace meeting on February 19 2026. Simultaneously, his firm Affinity Partners built a large position in Phoenix Financial, a Tel Aviv-based insurer and asset manager. Affinity first bought a 4.95 % stake in July 2024 for roughly $128.5 million, then doubled its holding in early 2025, bringing its ownership to about 9.87 % and making it Phoenix’s largest shareholder. In July 2026 the firm sold roughly a quarter of its stake for $343 million—more than five times the original purchase price—while retaining a 7.4 % position valued at over $1 billion.

Latin Times

Phoenix’s disclosed portfolio includes at least $456 million invested across nine companies that supply Israel’s military, anchored by a $265 million stake in Elbit Systems, the country’s largest publicly listed defense firm. Additional holdings identified by the investigation include Bet Shemesh Engines, Next Vision Stabilized Systems, Reshef Technologies, and Boeing. All nine companies saw their stock values rise during the Gaza conflict, a trend attributed by company statements to heightened demand for defense equipment. Affinity does not own shares in the defense firms directly, but its earnings rise when Phoenix’s profits increase.

Latin Times

Garcia’s letter asserted that Kushner’s “apparent conflict of interest” demands congressional oversight.

CNN

Kushner’s attorney responded that the letter is “a masterclass in irony,” noting that Garcia’s own pension plans hold stock in Phoenix Financial and Elbit Systems.

CNN

In reaction to the CNN investigation, Kushner posted on X, calling the story “deeply misleading.” The post did not specify particular inaccuracies.

CNN

The lack of a federal financial-disclosure requirement for informal envoys leaves a “structural flaw” that prevents routine public oversight.

Latin Times

• “Misleading stories will not distract me from the work President Trump asked me to do: help end wars, bring people together and pursue peace. That work is too important,” — Jared Kushner, an attorney

CNN

• “What people call conflicts of interest,” — Jared Kushner, an attorney

Mother Jones

If the House flips to Democratic control in the November midterm elections, committee leaders would be able to issue subpoenas and launch a formal investigation into Affinity’s Middle-East activities. Current rules require a committee chair or a vote to authorize subpoenas, so the outcome of the election will determine whether the oversight effort proceeds.

CNN