Kim Kardashian Launches Private Equity Firm

SKYY Partners aims to translate her influence into investments
By Rob Quinn,  Newser Staff
Posted Sep 7, 2022 3:17 PM CDT
Kim Kardashian Launches Private Equity Firm
Kim Kardashian attends The Metropolitan Museum of Art's Costume Institute benefit gala on Monday, May 2, 2022, in New York.   (Photo by Evan Agostini/Invision/AP)

The financial papers are now keeping up with the Kardashians. Kim Kardashian's latest venture is a private equity firm, which she is launching with industry veteran Jay Sammons. The new firm, SKYY Partners, will seek to build on Kardashian's influence with her 329 million followers and will make both minority and majority investments in firms, the Financial Times reports. SKYY plans to invest in sectors including media, entertainment, hospitality, and luxury, reports the Wall Street Journal. Kris Jenner, Kardashian's mother, will be a partner in the firm.

Kardashian is best known for her reality TV career, but she has been building a business empire for years, the Journal notes. Her apparel business Skims was valued at $3.2 billion earlier this year. She tells the Journal that she plans to use her experience to help grow companies the firm invests in. "The exciting part is to sit down with these founders and figure out what their dream is," she says. "I want to support what that is, not change who they are in their DNA, but just support and get them to a different level."

Sammons, a former partner at Carlyle Group, will run the firm's day-to-day operations. Kardashian and Sammons say they haven't starting raising funds yet but say SKYY will make its first investment before the end of the year. Reuters reports that the Kardashian fund is part of a trend that has seen celebrities including Leonardo DiCaprio, Gwyneth Paltrow, Serena Williams, and Jay-Z move into the private equity sector. (More Kim Kardashian stories.)

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