Seeking coronavirus relief, investment firm with ties to Kushner emails Kushner, Trump admin
The co-founder of a huge private equity firm sent an email this week to Jared Kushner and other Trump administration policy makers seeking to relax rules on coronavirus relief money in a way that would benefit the company, according to sources familiar with the matter.
Kushner's family real estate business has financial ties to the company, Apollo Global Management.
A source close to Kushner says there was nothing remarkable about his receipt of the email, from Apollo co-founder Mark Rowan. Kushner gets hundreds of proposals from all sorts of people, the source said. But Apollo is not just any business: It made a $184 million loan in 2017 to Kushner Companies, the real estate company in which Jared Kushner, President Donald Trump's son-in-law and senior adviser, retains an interest.
The email obtained by NBC News went out to Apollo clients and other policy-makers, the sources said. It makes a recommendation about a $100 billion loan program recently announced by the Federal Reserve to backstop lenders and investors — a program designed to inject cash into the financial system to prevent it from freezing up.
The details are complicated, but the program will make loans to the financial industry's holders of certain types of debt, including student, auto and credit card loans. Under the rules, the securities backed by the debt must have the highest rating, usually AAA. One big category of debt is not eligible: unsecured consumer loans.
https://www.nbcnews.com/politics/white-house/seeking-coronavirus-relief-investment-firm-ties-kushner-emails-kushner-trump-n1176686
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