Reality star and entrepreneur Kim Kardashian is teaming up with a former executive at Carlyle Group Inc, Jay Sammons, to launch the private-equity firm SKKY Partners.
The duo will make "both control and minority investments in companies," and focus primarily on investing in consumer, hospitality, and media businesses, reports The Wall Street Journal.
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The proposal came when Sammons approached Kardashian and her mother, Kris Jenner, with the idea to start SKKY earlier this year. He believes partnering up with Kardashian will allow them to bring different skills and expertise to the company.
"[Kim] Kardashian is arguably the most popular woman in the world, thanks to her TV stardom and business portfolio. That could help SKKY attract business and promote the brands the firm invests in," writes CNN Business.
Sammons has spent two decades in the private equity industry and has invested in popular brands like Supreme and Beats by Dre.
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