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Kim Kardashian is going from reality TV to big-money PE.
The entrepreneur and TV star is launching her own private equity firm SKKY Partners, alongside Jay Sammons, a 16-year veteran of The Carlyle Group. Kris Jenner will also serve as a partner at the firm.
According to SKKY, the firm “will make both control and minority investments in growth-oriented, market-leading consumer and media companies.” That will include consumer products and ecommerce, media and entertainment, hospitality, and luxury, all of which are “target sectors” for the firm.
It also intends to lean on Sammons’ financial and operational experience and Kardashian’s “global reach and unrivaled social influence” to find companies to invest in or acquire.
The Kardashians, including Jenner, have already established themselves with products in the cosmetics and clothing sectors, not to mention their numerous TV and entertainment products. They are also social juggernauts, with a robust following on every major social platform.
With SKKY, Kardashian and Jenner are betting that their reach, fame and experience can help them build a much wider range of businesses.
“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,” Kardashian 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.”
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