Kim Kardashian Taps Former Carlyle Partner to Run Her Private Equity Firm

By Senad Karaahmetovic

Kim Kardashian is partnering with Jay Sammons, the former partner at Carlyle Group (NASDAQ:), to launch a new private equity firm, according to the Wall Street Journal.

The new firm, called “SKKY Partners”, will be run by Sammons on a day-to-day basis and will focus on investing in consumer and media startups. Sammons previously ran consumer investing at Carlyle.

Special focus will be placed on startups and businesses that work in sectors like consumer products, hospitality, luxury, digital commerce, consumer media, and entertainment. SKKY Partners hopes to make its first investment by the end of the year after raising funds from institutional investors.

Sammons left the famous private equity firm, Carlyle, at the end of July. He was best known for making successful investments in brands like Beats By Dre and Supreme. The report notes that Sammons was the one who first pitched the private equity business idea to Kim and her mother Kris Jenner, who will act as a partner in the new company.

Kim Kardashian has been continuously growing her business empire over recent years. Skims, the underwear, loungewear, and shapewear business launched three years ago, was recently valued at $3.2 billion.

“The exciting part is to sit down with these founders and figure out what their dream is,” Kim Kardashian told WSJ.

“I want to support what that is, not change who they are in their DNA, but just support and get them to a different level.”