What is private equity & what is Kim Kardashian's SKKY Partners equity firm?
8 September 2022, 11:24 | Updated: 8 September 2022, 13:37
Kim has launched her own private equity firm in her long list of business ventures.
Reality star Kim Kardashian has launched her own private equity firm called SKKY Partners with a former partner at top investment firm.
SKKY Partners will focus on investing in consumer and media businesses, and Kardashian will serve as a co-founder and managing partner.
Kim's mum Kris Jenner will also be a partner at the firm.
In an Instagram post, Kim announced that "Together we hope to leverage our complementary expertise to build the next generation Consumer & Media private equity firm."
Her business partner has worked with brands such as Supreme, Vogue and Beats by Dr. Dre.
The reality star has a long list of entrepreneurial ventures including launching her shapewear label Skims in 2019, as well as a skincare brand called SKKN and many more.
What is private equity?
Private equity is perhaps most easily explained as an alternative investment that acquires private companies that are not listed on a public stock exchange.
SKKY plans to invest in consumer, digital, media, hospitality and luxury companies.
Introducing SKKY Partners, a private equity firm co-founded by Kim Kardashian and Jay Sammons that focuses on both control and minority investments in high-growth, market-leading consumer and media companies. pic.twitter.com/hstLMRjFeo— SKKY Partners (@SKKYPartners) September 7, 2022
Do other celebrities have their own private equity firms?
Multiple celebrities have ventured into private equity, including rapper Jay-Z, Serena Williams, and Ashton Kutcher.