KUSHNER’S AFFINITY TAKES BOARD SEAT AT BRAZIL FAST-FOOD OPERATOR

(Bloomberg) -- Jared Kushner’s Affinity Partners joined the board of Brazilian fast-food operator Zamp SA after making an investment of about $200 million earlier this year.

Asad Naqvi, a partner at Affinity, was elected as a board member during a general shareholders assembly on Friday, according to a company filing. Joining him among new investors will be Santiago Jariton, the chief investment officer at Emerging Variant Capital Management.

Mubadala Capital, the wholly-owned unit of the Abu Dhabi sovereign wealth fund which controls Zamp, retained Leonardo Yamamoto as chairman and added two other executives, including Brazil country head Oscar Fahlgren to the board.

Zamp has more than 1,000 Burger King and Popeyes restaurants in Brazil and is in talks to acquire the rights to also represent Starbucks Corp. in the South American country. After a prolonged effort to take control of Zamp, Mubadala now owns 58% of the company with Restaurant Brands International Inc. holding a 9% stake.

Zamp is the first known Latin America investment for Affinity Partners which was launched after Kushner left the White House where he worked in his father-in-law Donald Trump’s administration. He’s used his global ties from the previous role to help raise funds, including from the Middle East.

Other directors include Renato Rossi, the head of Restaurant Brands for Latin America and the Caribbean.