According to a joint statement, reality television star and entrepreneur Kim Kardashian and Jay Sammons, a former partner at Carlyle Group Inc., are starting a new private equity firm with a focus on investing in consumer and media firms.
SKKY Partners, the new firm, seeks to make both majority and minority investments in industries such as consumer products, hotel, luxury, internet commerce, and media.
“Together we hope to leverage our complementary expertise to build the next generation Consumer & Media private equity firm,” said Kim Kardashian in a tweet.
Kardashian and Sammons will act as co-founders and co-managing partners, with Sammons overseeing the firm’s day-to-day operations. Kris Jenner, Kardashian’s mother, will also be a partner at the firm.
The opening of a private equity business by Kardashian also highlights a wider trend among well-known Hollywood figures, such as Leonardo DiCaprio, Ashton Kutcher, and Gwyneth Paltrow, who are increasingly active investors in the private equity and venture capital sectors.
