THE WHAT? Reality star Kim Kardashian has entered the private equity investing world, having partnered with Carlyle Group executive Jay Sammons to start a new firm, according to a report by Bloomberg.
THE DETAILS Kardashian and Sammons will be co-founders, while Kardashian’s mother Kris Jenner will be a partner in the firm, named Skky Partners.
The company is said to drill down on investments in the consumer and media industries.
THE WHY? Taking to 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.”
According to Sammons, the pair will bring “a long history of investing capabilities and experience of working with high-growth brands that are disruptors” to the venture.