Kim Kardashian is the latest celebrity to announce the launch of her own private equity firm, SKKY Partners.
In a news release on Wednesday, Kardashian partnered up with longtime private equity veteran Jay Sammons to create an equity firm that focuses on investments within the portfolio of high-growth consumer and media businesses.
SKKY’s target sectors include consumer and digital products, e-commerce, consumer media and entertainment, hospitality and luxury, with both Kardashian and Sammons serving as the firm’s co-managing partners and co-founders.
Kardashian’s mother, Kris Jenner, will also serve as co-partner for the new equity firm, according to the news release.
“I’m excited to launch SKKY Partners to invest in the next generation of consumer brands, leveraging my experience founding and building global businesses and partnering with innovative companies to help them grow,” the 41-year-old celebrity mogul said in a statement. “I look forward to working closely with Jay and our team to identify distinctive investment opportunities and build the firm’s portfolio of world class companies for our investors.”
Sammons, the former global dead of consumer, media and retail at private equity firm the Carlyle Group expressed his excitement about teaming up with Kardashian to co-lead the new company.
“I have been privileged to spend my career partnering with the founders and leaders of some of the most influential and culturally groundbreaking consumer brands of our time,” Sammons, who will lead the day-to-day operations of SKKY Partners, said in a statement. “Now, in partnership with Kim and Kris, I look forward to building SKKY into the leading private equity firm that backs the next generation of innovative, disruptive consumer businesses and brands.”
In a recent interview with Interview Magazine, Kardashian, who has used her platform to push for criminal justice reform, said that the U.S. has regressed following the Supreme Court overturn of Roe v. Wade in June, adding that she found it frightening to think that same-sex marriage could also be in jeopardy as well.
“I’m studying civil procedure and criminal procedure right now, so just understanding the process of how Roe v. Wade got overturned — it’s fascinating and scary,” Kardashian told the magazine. “Just seeing how far our country has progressed, to then see it regress — it’s really scary to think that gay marriage is in jeopardy.”