Kim Kardashian becomes a personal equity dealmaker in collab with ex-Carlyle partner

Kim Kardashian becomes a personal equity dealmaker in collab with ex-Carlyle partner

America’s favourite reality star is levelling up her repertoire and levering up businesses. Kim Kardashian, who passed the “baby bar” exam in preparation to become a lawyer last year, just added another job title to her lineup — private equity investor.

Kardashian is launching private equity firm SKKY Partners in conjunction with ex-Carlyle consumer head Jay Sammons to speculate in business across consumer products, hospitality, luxury, digital commerce and media, The Wall Street Journal first reported. SKKY will take both control and minority stakes in its target companies, in step with the Journal.

Sammons, who left Carlyle this summer after spending 16+ years at the highest private equity firm, is understood for his bets on brands including Supreme and Beats by Dre. A longtime friend of the Kardashians, Sammons apparently approached Kardashian and her mom-ager, Kris Jenner, with the thought to begin the business. Jenner is going to be joining SKKY as a partner, the Journal reported.

Sammons plans to oversee the firm’s daily operations from Boston, where he lives, while SKKY’s second office is going to be in Kardashian’s hometown of la. Kardashian told the Journal that the firm is going to make its first investment before the tip of 2022 and plans to travel to dead-set institutional investors to lift capital shortly. Neither Sammons nor Kardashian shared any details on the expected fund size they hope to lift.

Kardashian is that the latest celebrity to create inroads within the world of personal capital management, following tennis sensation Serena Williams’ pivot to working full-time in the capital last month. For Kardashian, though, private equity is simply another side hustle instead of her main area of focus, a minimum for now.

Kardashian’s invasion launching an undergarment and loungewear brand, Skims, made her a billionaire — the business was last valued at $3.2 billion along with her stake at over $1 billion. She also launched a nine-product skincare line this year together with consumer conglomerate Coty, an investor in her beauty company, and announced earlier in the week that she is debuting her own true crime podcast called “The System” in a very cover story with Interview Magazine.