Kim Kardashian has announced that she is partnering with Jay Sammons, a former executive with Carlyle Group, to launch her own private equity firm, SKKY Partners. The group will be focused on investing in hospitality, media, and consumer products.
Kardashian made the announcement in a post on Instagram, Wednesday, revealing that Kris Jenner would also be signing on as a partner.
"I’m pleased to announce the launch of @SKKYPartners with private equity veteran Jay Sammons as co-founder and co-managing partner, along with @krisjenner who will serve as partner at our firm," Kardashian captioned a photo of herself with Sammons.
She continued: "Together we hope to leverage our complementary expertise to build the next generation Consumer & Media private equity firm. For more information, visit SKKY.com and follow us at @skkypartners on social media."
Sammons spent 16 years with the Carlyle Group, where he made several key investments in popular brands such as Supreme and Beats by Dre. He's been an associate of the Kardashian family as a whole for years and approached Kim with the idea for SKKY.
As for other business ventures, Kardashian has experience of her own. She founded the shapewear and clothing brand, Skims, which is valued at roughly $3 billion, as well as launched her own beauty line, KKW Beauty.
Check out Kardashian's announcement below.
[Via]