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Kim Kardashian wants to become a private equity investor

Photo: Kim Karda­shian and ex-Carlyle inves­tor Jay Sammons (right).
13. Septem­ber 2022

Los Ange­les — America’s favo­rite reality star is beefing up her reper­toire and has just added anot­her job title to her port­fo­lio — private equity investor.

Karda­shian is co-foun­­­ding SKKY Part­ners, a private equity firm that will invest in consu­mer, hospi­ta­lity, luxury, digi­tal commerce and media compa­nies, with Jay Sammons (pictu­red right), the former head of Carlyle’s consu­mer products busi­ness, the Wall Street Jour­nal first repor­ted. Accord­ing to the Jour­nal, SKKY will take both control­ling and mino­rity stakes in the target companies.

Sammons, who left Carlyle this summer after spen­ding more than 16 years at the leading private equity firm, is known for his bets on brands like Supreme and Beats by Dre. A long­time friend of the Karda­shi­ans, Sammons appar­ently approa­ched Karda­shian and her mother, Kris Jenner, with the idea of star­ting the company. Jenner will join SKKY as a part­ner, the Jour­nal reports.

Sammons plans to run the company’s day-to-day opera­ti­ons from Boston, where he lives, while SKKY’s second office will be in Kardashian’s home­town of Los Ange­les. Karda­shian told the Jour­nal that the company plans to make its first invest­ment before the end of 2022 and plans to approach insti­tu­tio­nal inves­tors to raise capi­tal soon. Neit­her Sammons nor Karda­shian provi­ded details about the anti­ci­pa­ted size of the fund they plan to raise.

Karda­shian is the latest cele­brity to enter the world of private capi­tal manage­ment, following tennis star Serena Williams’ full-time venture capi­tal work last month. For Karda­shian, howe­ver, private equity is just anot­her side­line and not her main field of acti­vity, at least for now.

Kardashian’s foray into star­ting an under­wear and loun­ge­wear brand, Skims, made her a billion­aire — the company was last valued at $3.2 billion, with her stake topping $1 billion. She also laun­ched a nine-product skin­care line this year in colla­bo­ra­tion with consu­mer goods company Coty, an inves­tor in her beauty business.

 

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