Shortly after leaving the Trump White House, Jared Kushner was putting Saudi money to work across a host of businesses, including Amazon aggregator Unybrands.
One of Jared Kushner's early investments after leaving the White House was in an Amazon aggregator called Unybrands.
Weeks ahead of his testimony in Washington, Kushner and others from his private equity firm, Affinity Partners, took a boat from their beach office in South Florida to meet with a company called Unybrands at its headquarters in nearby Miami, according to people familiar with the matter who asked not to be named because the talks were private.of Amazon seller aggregators.
Affinity's investment in Unybrands, which hasn't previously been reported, was one of the private equity firm's earliest deals. It's since backed a handful of companies, including a fitness technology startup, an online classifieds operator and a solar financing company, with its investments totalingin 2022 and venture funding dried up for cash-burning startups.
"I call it more of a kick-the-can type of merger, where you have common debt or common equity mergers, and they jam them together to maybe restructure the debt," Somerville said. "Pretty much 100% of these are being done in a distressed situation." Unybrands didn't directly respond to questions about whether it's conducted layoffs. The company said headcount has grown from 115 employees in January 2022 to more than 230 employees as of this year.
While Unybrands provided scant details about the investment, filings with the U.K.'s corporate register show that in March, Unybrands transferred control of the company to a new entity owned by Kushner and affiliated with Affinity called AP Investments II. "As part of the financing the Crayhill debt was repaid," Unybrands wrote in the memo, which was viewed by CNBC. "It also became necessary to make some changes to our corporate structure, which has meant that our group's operating assets have been transferred to a new entity."
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