Reality TV star Kim Kardashian becomes the latest celebrity to join the private equity and venture capital industry, launching Skky Partners and joining the likes of Leonardo DiCaprio, Gwyneth Paltrow, and Serena Williams.
WHO: Skky Partners is a private equity firm co-founded by Kim Kardashian and former partner at the Carlyle Group Jay Sammons. The firm will target companies in the consumer, media, hospitality, luxury, digital, and e-commerce sectors. Kardashian and Sammons, who previously ran the Carlyle Group's global consumer, media, and retail division and left the company in July, will serve as co-founders and co-managing partners, with Sammons running daily operations at the firm. Skky will take both control and minority stakes in its target companies.
IN THEIR OWN WORDS: "Together we hope to leverage our complementary expertise to build the next generation Consumer & Media private equity firm," Kardashian wrote on Twitter.
In an interview, Sammons stated, "Kim has started two businesses that sophisticated investors have valued over US$1 billion. She's an incredibly accomplished entrepreneur and investor."
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