Kim Kardashian launching private equity firm to help young entrepreneurs
Kardashian's mother, Kris Jenner, will also be joining the firm as a partner
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Kim Kardashian is expanding her resume once again.
The reality star and SKIMS founder will launch a new private equity firm named SKKY Partners alongside Jay Sammons, a former partner at Carlyle Group Inc, The Wall Street Journal reported Wednesday.
Kim Kardashian is launching new private equity firm, SKKY Partners. (Getty Images / Getty Images)
According to the outlet, SKKY Partners will make investments in areas such as businesses, consumer products, luxury, hospitality and digital commerce and media.
The news was confirmed by SKKY Partners itself, sharing the announcement on its official Instagram page.
Kim Kardashian founded her successful brand SKIMS in 2019. (Kevin Mazur / Getty Images)
"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," the caption read alongside a photo of both Kardashian and Sammons.
Sammons has a longtime relationship with both Kardashian and her mother and manager, Kris Jenner, according to the publication. He approached the duo in early 2022 about launching the firm.
Moreover, Sammons confirmed to the outlet that Jenner will join SKKY as a partner.
Kim Kardashian is currently studying to become an attorney. (Getty Images / Getty Images)
Kardashian, who founded shape and loungewear brand SKIMS in 2019 that was recently valued at a whopping $3.2 billion, spoke of her excitement on her latest venture. "The exciting part is to sit down with these founders and figure out what their dream is," Kardashian told the outlet. "I want to support what that is, not change who they are in their DNA, but just support and get them to a different level."
Kardashian's announcement comes on the heels of her recent racy Interview Magazine cover, in which she bared her backside in front of the American flag. The reality star, who is studying to become a lawyer, explained to the publication why she can relate to women behind bars.
"I mean, I probably did some dumb s--- at some point, and I was maybe just a few decisions off of being in a similar situation, any of us could be," she told the magazine after visiting a women's prison learning that many of the incarcerated women, "committed a crime for their boyfriend, or for their husband."