Scoop: Israeli spy chief in talks to join Mnuchin's investment fund

• Cohen and a representative for Mnuchin declined to comment when Axios approached them about these discussions. A source who spoke to Cohen said no final decision has been made about him joining Mnuchin's fund.

State of play: Mnuchin's fund is expected to raise money from sovereign wealth funds in the Persian Gulf region. Funds for Qatar and the United Arab Emirates are evaluating cooperation with Mnuchin, according to sources familiar with their deliberations.

• Former U.S. ambassador to Israel David Friedman also has discussed joining Mnuchin's fund. Friedman worked with Cohen during the Trump presidency on many issues, including Israel's relations with Gulf countries.
• They resulted in a series of direct normalization agreements between Israel and several Arab countries known collectively as the "Abraham Accords."

The big picture: Both Mnuchin and Cohen worked closely with Qatar, the UAE and other Gulf states as part of their government jobs and traveled to the region several times.

• The Mossad has been working closely with Qatar in recent years on the issue of Gaza. This work continued during the recent crisis, with the Israeli spy agency passing messages to Hamas via Qatar.
• Israel has approved and sometimes requested Qatari transfers of hundreds of millions of dollars to Hamas-controlled Gaza. This has given Qatar sizable diplomatic influence.