Kim Kardashian co-founds private equity firm Skky Partners


Reality TV star Kim Kardashian has launched a private equity fund, Skky Partners, which she co-founded with Jay Sammons, a former partner at investment firm Carlyle Group.

Photo by James Devaney/GC Images via Getty Images

Reality TV star Kim Kardashian has launched a private equity fund, Skky Partners, which she co-founded with Jay Sammons, a former partner at investment firm Carlyle Group.

“Together, we hope to leverage our complementary expertise to build the next generation of consumer and media private equity firms,” ​​Kardashian said. wrote on Twitter.

In addition to investing in consumer and media companies, the company will also target the hospitality, luxury, digital and e-commerce sectors, Skky Partners tweeted.

This said it would pursue control and minority investments in these industries.

Kardashian and Sammons, who previously led the Carlyle Group’s global consumer, media and retail division and left the company in July, will serve as co-founders and co-managers, with Sammons managing the day-to-day operations of the business. . Sammons has previously worked with global brands like Supreme, Beats by Dr.Dre, Vogue, McDonald’s China and Moncler, according to his LinkedIn profile.

Kardashian’s mother and longtime manager Kris Jenner is also a partner in the new venture. On Twittershe said she was “proud, honored and delighted” to join the firm.

Skky Partners did not immediately respond to a CNBC request for comment.

Kardashian originally rose to fame on the reality TV show ‘Keeping Up with the Kardashians’, which ran from 2007 to 2021. She now stars in spin-off show ‘The Kardashians’ and has 329 million followers on Instagram.

With the launch of Skky Partners, Kardashian has become the latest celebrity to join the private equity and venture capital industry, joining Leonardo DiCaprio, Gwyneth Paltrow and Serena Williams.

Tennis star Williams’ venture capital firm Serena Ventures raised $111 million in March and has invested in more than 50 companies worth more than $14 billion since its inception in 2014. This includes the MasterClass online learning platform and the Clubhouse social audio app.

Kardashian has already proven herself as a successful entrepreneur. His shapewear brand Skims was valued at $3.2 billion in January, while his makeup brand KKW grew in popularity after launching in 2017. In June, the entrepreneur renamed KKW to SKKN as the company went from makeup to skincare.

This isn’t the first time Kardashian has spoken publicly about finance and investing, either. In 2021, the star posted advertisements for the cryptocurrency on her Instagram account, which had around 228 million followers at the time. She has since been sued by investors in the cryptocurrency she promoted, EthereumMax. The class action lawsuit, which was filed earlier this year, claims that Kardashian and other celebrities who promoted the token collaborated with its creators to “deceptively promote and sell it.”

Previous Fetterman's claim Dr. Oz opposes abortion in rape and incest cases
Next Pay-as-you-go helps American workers pay their bills more easily, save money and avoid the cycle of debt, according to new research from the Mercator Advisory Group