The transaction marks a significant milestone for Phoenix Financial, which has seen its value grow roughly fivefold since Affinity’s initial 2024 entry. This performance surge led to the company’s recent inclusion in both the MSCI World and MSCI Israel indices. By offloading part of its position, Affinity successfully returns capital to its limited partners while maintaining a long-term commitment to the insurer’s management team and strategic direction.
Affinity Partners Sells Quarter of Phoenix Stake to Global Investors
Affinity Partners has offloaded 25% of its holdings in Phoenix Financial, inviting a select group of premier long-only asset managers into the Israeli firm’s ownership structure. Despite the sale, the Miami-based investment firm founded by Jared Kushner retains a 7.4% stake, remaining the company's largest single shareholder.
Jefferies acted as the sole global coordinator and bookrunner for the placing, which includes a 180-day lock-up period for the shares. Looking ahead, Affinity plans to leverage its ongoing partnership to explore regional growth initiatives, reinsurance, and expanded asset management collaboration. Phoenix Financial, currently managing over $215 billion in assets, continues to anchor its operations on the Tel Aviv Stock Exchange as a constituent of the Tel Aviv 35 index.
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