Kim Kardashian launches private equity firm

SKKY Partners venture with Carlyle veteran Jay Sammons will focus on consumer items, media and luxury

Kim Kardashian has ventured into the world of finance, launching her own private equity firm with the help of a former partner from the US powerhouse the Carlyle Group.

The billionaire reality TV star, business owner and celebrity influencer announced the move on Twitter, saying the firm, SKKY Partners, would aim to make minority investments or take controlling stakes in “high-growth, market-leading consumer and media companies”.

Along with Jay Sammons, a former executive at the private equity firm Carlyle Group, Kardashian’s firm plans to focus on consumer products, media, hospitality and luxury. It will also consider making investments in digital and e-commerce firms.

I’m pleased to announce the launch of @SKKYPartners with private equity veteran Jay Sammons as co-founder and co-managing partner, along with @KrisJenner who will serve as partner at our firm.

— Kim Kardashian (@KimKardashian) September 7, 2022

Sammons spent 16 years at Carlyle as head of its consumer, media and retail division, where he made lucrative investments in big brands including the headphones company Beats by Dre, which was founded by the rapper and producer Dr Dre.

“Together we hope to leverage our complementary expertise to build the next generation consumer and media private equity firm,” Kardashian tweeted on Wednesday.

She added that her mother, Kris Jenner, would also serve as a partner in the firm, though SKKY had yet to raise any capital to secure those investments, according to the Wall Street Journal.

Kardashian, who rose to fame alongside her family after starring in the reality TV show Keeping Up with the Kardashians, has previously run into trouble in the UK over a previous financial venture.

The then chair of the Financial Conduct Authority Charles Randell, criticised Kardashian in a speech last year after she posted a paid promotion for a token called EthereumMax to her Instagram stories, where she asked her 250 million fans: “Are you guys into crypto????” While the post was marked as an advertisement, Randell said Kardashian did not disclose that the token was created only a month earlier by unknown developers.


Kalyeena Makortoff

The GuardianTramp

Related Content

Article image
Damon Buffini: BBC appoints private equity boss to make it more commercial
Former Pemira chief named deputy chair as government overhauls licence fee

Mark Sweney

09, Dec, 2022 @3:54 PM

Article image
Pornhub owner MindGeek sold to private equity firm
Buyer Ethical Capital Partners targets industries requiring ‘principled ethical leadership’

Dan Milmo Global technology editor

17, Mar, 2023 @1:33 PM

Article image
Kim Kardashian to pay $1.26m to settle crypto charges
Reality TV star failed to disclose that she was paid to promote a crypto asset in an Instagram post

Mark Sweney

03, Oct, 2022 @1:19 PM

Article image
'Duchess effect' gives French boot firm some private equity welly
Marwyn partners to buy Le Chameau, brand favoured by young royals, in attempt to steal a march on British rival Hunter

Simon Neville

02, Oct, 2012 @2:40 PM

Article image
Bank of England to stress test hedge funds and private equity lending
Central bank to examine shadow banking sector amid fears it could put UK financial stability at risk

Kalyeena Makortoff Banking correspondent

13, Dec, 2022 @5:17 PM

Article image
Private equity firm to increase offer for UDG Healthcare to £2.7bn
Move by Clayton, Dubilier & Rice, which wants to take over Morrisons, follows shareholder opposition to initial bid

Jasper Jolly and Mark Sweney

25, Jun, 2021 @2:39 PM

Article image
Punch Pubs sold to US private equity investor Fortress
Deal for almost 1,300 British pubs thought to be worth up to £1bn

Jasper Jolly

15, Dec, 2021 @1:29 PM

Article image
LV= members block US private equity takeover
Approach by Bain Capital pitted group’s leaders against campaigners and politicians in year-long battle

Kalyeena Makortoff Banking correspondent

10, Dec, 2021 @3:37 PM

Article image
Reiss sold to US private equity firm
Duchess of Cambridge is a fan of the upmarket fashion retailer’s clothes

Zoe Wood

13, Apr, 2016 @4:34 PM

Article image
Why cash-rich private equity firms scent bargains in the UK
Analysis: low valuations have made British firms easy prey and Morrisons will not be the only target

Jasper Jolly

22, Jun, 2021 @5:00 AM