Kim Kardashian, a reality television star, and an ex-colleague from the Carlyle Group founded their private equity firm.
According to a tweet, SKKY Partners will focus on financing consumer and media enterprises.
Ms Kardashian will serve as a co-founder and co-managing partner of the business, with Jay Sammons overseeing day-to-day operations.
The mother of Ms Kardashian, Kris Jenner, will be a partner in the business as well.
“Together, we intend to utilise our complimentary talents to establish the next generation of consumer and media private equity firms,” the reality star-turned-entrepreneur stated in a tweet.
Her business partner is Mr Sammons, a former global head of consumer, media, and retail at the American multinational investment company Carlyle Group.
His clients included well-known firms including Supreme, Beats by Dr Dre, Vogue International, Moncler, and McDonald’s China, according to his LinkedIn page.
Forbes reports that the reality star, who became well-known after appearing on the “Keeping Up With the Kardashians” television show, has recently enjoyed entrepreneurial success and has an estimated net worth of $1.8 billion.
She created the shapewear company Skims in 2019, and The Wall Street Journal estimated its value to be $3.2 billion in January. The businessperson also unveiled the skin-care product SKKN BY KIM earlier in the year.
Kardashian said in December that she had passed California’s “Baby Bar” exam, which is a prerequisite for prospective attorneys who are not enrolled in recognised law schools. In the trial of O.J. Simpson, whose father, Robert Kardashian, served as O.J.’s defence counsel, was a law clerk at a San Francisco firm.
The 41-year-old actor has started his private equity and venture capital investing firms, joining A-listers like Gwyneth Paltrow, Leonardo DiCaprio, and Ashton Kutcher.