Kim Kardashian has added another business to her portfolio: a private equity firm.
“I’m pleased to announce the launch of SKKY Partners with private equity veteran Jay Sammons as co-founder and co-managing partner, along with Kris Jenner who will serve as partner at our firm,” Kardashian tweeted early Wednesday morning. “Together, we hope to leverage our complementary expertise to build the next generation Consumer & Media private equity firm.”
The firm’s target sectors include consumer products, digital & e-commerce, consumer media, hospitality and luxury, the company said on Twitter.
Sammons is a former partner with the private equity firm, Carlyle Group Inc.
He told The Wall Street Journal he approached Kim Kardashian and Kris Jenner, whom he has known for years, about the business venture earlier this year.
Sammons left Carlyle in July after over a decade and a half with the firm.
The trio’s new business plans to make both control and minority investments in companies.
Kardashian, who also founded SKIMS “shapewear,” told WSJ that the idea of working closely with entrepreneurs to help them grow companies is what attracted her to the idea of starting SKKY. She said she would bring her own experiences from her various businesses to help others.
“The exciting part is to sit down with these founders and figure out what their dream is,” she said. “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.”
SKKY It is based in Los Angeles, where Kardashian lives, and Boston, where Sammons lives.
The reality star said SKKY hasn’t made any investments yet, but there are plans in place to do so before the end of the year.
For more information, visit the website here and follow @SKKYPartners on social media.