SKKY Partners will buy stakes in fast-growing media and consumer-focused companies

Kim Kardashian starts new private equity fund Carlyle SKKY Partners
Kim Kardashian will co-manage the fund, while her mother will serve as a partner Credit: REUTERS/Mario Anzuoni

Kim Kardashian has launched a new private equity firm with a former partner of industry giant Carlyle, as the reality TV star seeks to expand her growing business empire. 

Ms Kardashian has teamed up with Jay Sammons, who led consumer investing at Carlyle, to found SKKY Partners, a new private equity fund focused on buying stakes in fast-growing media and consumer-facing companies. 

The pair will serve as co-founders and co-managing partners, with Mr Sammons leading day-to-day operations of the firm.

The company said that its “target sectors include consumer products, digital and ecommerce, consumer media, hospitality and luxury”.

The firm has yet to raise any funds, according to the Wall Street Journal, which first reported the launch. Ms Kardashian’s mother Kris Jenner is also set to be a partner at SKKY. 

Kris Jenner will act as a partner for the fund Credit: Pascal Le Segretain/amfAR/Getty Images for amfAR

Celebrities are increasingly looking to use their wealth and status to become investors in the private equity and venture capital space. 

In March, tennis star Serena Williams raised $111m for her new venture capital firm Serena Ventures, while Hollywood celebrities including Leonardo DiCaprio, Ashton Kutcher and Gwyneth Paltrow have invested in start-ups.

Ms Kardashian has already had success with recent personal ventures, including fashion brand Skims and makeup brand KKW. In January, Skims was valued at $3.2bn.

Last year, Ms Kardashian was singled out by the then-chairman of the City watchdog in a speech taking aim at celebrities who sell “delusions of quick riches” to the public by endorsing online investment schemes.

Mr Randell took aim at the explosion of celebrity endorsements for financial products, saying that Ms Kardashian – who had advertised a cryptocurrency called Ethereum Max to her 250m Instagram followers – “may have been the financial promotion with the single biggest audience reach in history”.

Charles Randell, the former chairman of the Financial Conduct Authority (FCA), said that famous people who promote cryptocurrencies and other high-risk investments on social media are “betraying the trust” of their fans. There is no suggestion Ms Kardashian broke any rules.