Jared Kushner’s Affinity Partners to Acquire 8% Stake in UK Digital Lender OakNorth

Jared Kushner’s private equity firm, Affinity Partners, has agreed to acquire an 8% stake in UK-based digital lender OakNorth. The transaction, expected to conclude in the coming weeks, involves purchasing the stake from an undisclosed existing investor. Established by Kushner in 2021, Affinity Partners manages funds from Gulf sovereign wealth investors, including those from Saudi Arabia and Qatar. (ft.com)

OakNorth, founded in 2015 by Rishi Khosla and Joel Perlman, specializes in providing debt financing to businesses. Since its inception, the bank has lent over £12.5 billion across the UK and the US. In March 2025, OakNorth expanded its US presence by acquiring Michigan-based Community Unity Bank, which holds an FDIC-insured license, to accelerate its growth in the American market.

The bank’s expansion into the US aligns with broader trends among UK fintech companies, such as Revolut, seeking bank charters to operate nationally in the US. OakNorth’s growth has been supported by investors including SoftBank, Singapore’s GIC, and Toscafund. In 2019, the bank was valued at $2.8 billion. In 2024, OakNorth reported nearly £215 million in pre-tax profit and issued £2.1 billion in loans.

The acquisition of the 8% stake by Affinity Partners is expected to bolster OakNorth’s expansion plans, particularly in the US market, and may pave the way for a potential public listing in the future. The deal reflects continued interest in fintech ventures and the strategic importance of cross-border investments in the evolving global financial landscape.