When Jared Kushner formed Affinity Partners in 2021, and then raised most of his first fund from Middle Eastern sovereigns, he took great pains to say that the endeavor was conceived after he left the White House.

He bristled at suggestions of quid pro quo, but also understood that the whiff was strong enough that it had to be addressed.

Kushner also insisted that his government days were in the past, even if his father-in-law regained power. Full-time private equity guy in Miami, not a D.C. denizen hoping to boomerang.

But it hasn't quite worked out that way, ressurecting old questions as Affinity begins premarketing its second fund. READ MORE