Experts Wary This Private Equity Firm Could Profit From Its Relationship With Trump, Kushner
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Private equity firm CIM Group has been an active player in several deals with President Donald Trump and White House adviser Jared Kushner. The Los Angeles firm helped Kushner purchase the $340M Brooklyn Watchtower complex last year, which was sold to Kushner Cos. shortly after Trump accepted the Republican nomination for president.
CIM Group has roughly $19.7B under management and has been involved in at least seven real estate deals that have benefited Trump and his colleagues, including Kusher. This includes providing a reported $85M lifeline for Trump’s SoHo hotel, WNYC News reports. CIM also purchased government contracts and a global interest fund, among other things, that could stand to gain from the firm's relationship with the president.
While the depth of CIM’s connection to the first family is unknown, since much of its business is private, Citizens for Responsibility and Ethics in Washington spokesperson Jordan Libowitz said the situation creates doubt concerning the extent of Trump’s business ties.