Reality TV star Kim Kardashian has launched a private equity firm called SKKY Partners, which will invest with an emphasis on consumer and media businesses.
Kardashian co-founded the company with one of her previous partners, Jay Sammons, a former executive at the multinational investment firm Carlyle Group.
She will be co-managing partner, while Sammons is expected to handle daily operations, with the reality TV star’s mother, Kris Jenner, also a partner.
I’m pleased to announce the launch of @SKKYPartners with private equity veteran Jay Sammons as co-founder and co-managing partner, along with @KrisJenner who will serve as partner at our firm. pic.twitter.com/KExQTsVGbf
— Kim Kardashian (@KimKardashian) September 7, 2022
"Together we hope to leverage our complementary expertise to build the next generation consumer & media private equity firm,” Kardashian added in a tweet.
The 41-year-old is not not unique among A-list celebrities in launching private equity or venture capital investment firms, with actors, musicians and sports stars including Will Smith, Leonardo DiCaprio, Snoop Dogg, Gwyneth Paltrow, Jay-Z, Ashton Kutcher, Steph Curry, Bono and P-Diddy also have fruitful investment vehicles.
Kardashian has ventured into the entrepreneurial world in recent years, including the launch of her shapewear label Skims in 2019, which was thought to be worth $3.2bn in January, according to The Wall Street Journal.
Sammons, meanwhile, is the former head of consumer, media and retail at the Carlyle Group, while he has worked with established brands Supreme, Beats by Dr Dre, Vogue International and Moncler, his LinkedIn page outlined.