Kim Kardashian and her mom created a private equity fund
Jay Sammons from Carlyle Group, Kim Kardashian and Kris Jenner launched an investment business
The television reality star is joining up with Jay Sammons from Carlyle Group Inc to launch a new private-equity firm focused on investing and building consumer and media businesses.
Mr. Sammons ran consumer investing at Carlyle, and is joining with Ms. Kardashian to launch SKKY Partners. The partnership will make investments in sectors like consumer products, hospitality, luxury, digital commerce and media as well as consumer-media and entertainment businesses.
In 2019, Ms. Kardashian started Skims which was valued at $3.2 billion in January. The company raised $240 million at that time in funding by Lone Pine Capital. This year she’s launched a skin-care line, SKKY BY KIM.
Mr. Sammons left Carlyle at the end of July after more than 16 years at the firm, he’s known for investing in brand names like Beats By Dre and streetwear brand Supreme. As a family friend, he approached Ms. Kardashian and her mother Kris Jenner earlier this year about starting a company.
Ms. Kardashian is looking forward to working closely with entrepreneurs and helping them grow their businesses, which is what originally attracted her to the idea. SKKY plans to make both control and minority investments, although none have been made yet.
