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Jared Kushner's Affinity Fund Sells Phoenix Insurance Shares for Over NIS 1 Billion

How 4 Israeli newsrooms covered this story — translated into English and compared side by side.

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First reported by Calcalist · 7 hours ago

What happened

Jared Kushner's Affinity fund sold a quarter of its shares in Israel's Phoenix Insurance for about NIS 1.05 billion, retaining its position as the largest shareholder. The sale follows a significant rise in Phoenix's stock value since Affinity's initial investment two years ago. Affinity remains committed to supporting Phoenix's future growth and collaboration.

01Jared Kushner's Affinity fund sold 2.5% of Phoenix Insurance shares for NIS 1.05 billion.
02Affinity's stake dropped to 7.4% but remains Phoenix's largest shareholder.
03Phoenix's stock rose nearly 420% since Affinity's initial investment two years ago.
04Affinity's total Phoenix shares are now worth about NIS 3.3 billion.
05The fund plans to support Phoenix's growth in insurance, reinsurance, and asset management.
06The sale was led by U.S. investment bank Jefferies at a 4% discount.

Summary translated & synthesized from the sources below by baba. Read each original for the full report.

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