Alternative Investment

Kim Kardashian starts firm with former Carlyle exec

Jay W. Sammons has traded a top post at name-brand alternative investment firm Carlyle Group Inc. to form a private equity firm with media powerhouse Kim Kardashian.

The new firm, SKKY Partners, will make both control and minority investments in consumer and media companies, according to a Sept. 7 tweet.

Mr. Sammons, former global head of consumer, media and retail, left Carlyle in August, according to Bloomberg.

The “next generation” private equity firm is expected to target sectors including consumer products, digital and e-commerce, consumer media, hospitality and luxury, the firm tweeted.

Mr. Sammons, co-managing partner, is not a stranger to those sectors. During his more than 16 years at Carlyle, he was associated with investments including Beats by Dre, skincare company Philosophy, Beautycounter, Every Man Jack and Vogue International, Carlyle’s website shows.

Co-managing partner Ms. Kardashian also is no stranger to the private equity world. Her shapewear line, Skims Body Inc, was valued at $3.2 billion after receiving $240 million in its latest funding round in January led by Lone Pine Capital LLC, according to Bloomberg.

“Together we hope to leverage our complementary expertise to build the next generation consumer and media private equity firm,” Ms. Kardashian tweeted.

And like Ms. Kardashian’s rise to fame through reality TV, the new firm will be a family affair. Her mother and manager, Kris Jenner, is a partner in SKKY Partners, according to Bloomberg. SKKY executives could not be reached for comment.

Bloomberg contributed to this report.

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