Larry Fink\u2019s BlackRock, Marc Rowan\u2019s Apollo Global Management, and Henry Kravis\u2019s KKR are in talks to manage a US investment fund to bankroll postwar reconstruction in Ukraine, The Post has learned.<\/p>\n
Sources familiar with the matter said Jared Kushner<\/a>, President Trump\u2019s son-in-law, was in New York City on Wednesday for exploratory discussions with the top asset managers in Manhattan\u2019s swanky Hudson Yards development.<\/p>\n \u201cKushner is looking for a US-based asset manager who will administer and officiate over the Ukraine reconstruction fund,\u201d said one insider. <\/p>\n Ukrainian soldiers of the 66th Brigade attend a training combat exercise in the Donetsk region, Ukraine, in September. AP<\/p>\n BlackRock CEO Larry Fink<\/a> halted his firm\u2019s own multi-billion-dollar Ukraine Development Fund in July amid uncertainty over how President Trump<\/a> would try to end the war.<\/p>\n Fink and Kushner, who runs the Saudi-backed Affinity Partners fund, took part in a call with Treasury Secretary Scott Bessent<\/a> and Ukrainian President Volodymyr Zelensky<\/a> yesterday.<\/p>\n \u201cBlackRock is considered the most neutral. If you look in the past \u2014 which firm the government has been the most comfortable with \u2014 it was BlackRock. They are the clear frontrunners,\u201d one source said.<\/p>\n \u201cThis is not a huge money maker for whoever does it. They are not going to charge incentive fees. It\u2019s a public service,\u201d the person briefed on the situation added.<\/p>\n \u201cYou are going to ingratiate yourself with the president and Mr Kushner. Anyone who gets this mandate is going to be considered No. 1 with this administration \u2014 and they are going to f\u2013k the Europeans.\u201d<\/p>\n Indeed, the move could raise fears amongst Ukraine\u2019s allies in Europe that they will be cut out of any lucrative contracts to rebuild the war-torn country.<\/p>\n Larry Fink, chairman and CEO of BlackRock, attends the Global Financial Leaders\u2019 Investment Summit in Hong Kong last month. REUTERS<\/p>\n The Trump administration, via the US International Development Finance Corporation (DFC), in September pledged $75 million in equity intended to jumpstart the fund\u2019s investment in critical minerals, hydrocarbons, defense, and related infrastructure in Ukraine.<\/p>\n That investment is set to be matched by Kyiv to bring it to an initial combined total of $150 million, but DFC stressed that much of the work would be done by \u201caligned private sector partners.\u201d<\/p>\n The talks come as Ukrainian government officials, including Prime Minister Yulia Svyrydenko, are set to hold what one source described as \u201cmarathon talks\u201d about the US-backed peace proposal.<\/p>\n They will also focus on how to rebuild the nation that has been subjected to a brutal four-year attempt to wipe Ukraine off the map by Russian invaders.<\/p>\n Ukrainian President Volodymyr Zelensky speaks during a press conference following talks at Mariyinsky Palace in Kyiv on Sept. 11, 2025, amid the Russian invasion in Ukraine. AFP via Getty Images<\/p>\n