Reality television star and entrepreneur Kim Kardashian is teaming up with Jay Sammons, a former partner at Carlyle Group Inc, to launch a SKKY Partners, new private equity firm which will focus on investments in consumer and media businesses, according to a report by Bloomberg.
The report cites a joint statement as revealing that the new firm will look to make both contril and minority investments in a range if sectors including consumer products, hospitality, luxury, digital commerce and media, and plans to make both control and minority investments.
Kardashian and Sammons will serve as co-managing partners, with Sammons responsible for the day-to-day running of the firm.
Kardashian already has a successfull business track-record with ventures including shapewear label Skims and makeup brand KKW, with Skims aching a valuation of $3.2 billion in January.
