According to news reports, a popular television personality Kim Kardashian has decided to take a foray into investments. She has launched her own private equity fund named, Skky Partners. The equity firm is co-founded with Jay Sammons.
Kim Kardashian wrote on Twitter, that they aim to use their expertise with each other to build an equity firm for the future.
Private equity is defined as such investments which are made into companies which do no trade publicly. Private Equity investors are believed to have financial banking. According to reports, the earnings of private equity firms are high and successful PE managers can earn millions.
Kardashian and Sammons were previously associated with the global consumer, media and retail division at the Carlyle Group. The two now have come together to work as co-founders and managing partners. It is expected that Sammons would be looking after the day-to-day operations at Skky Partners. Reports bring out that, Sammons possesses enough administrative experience as he has worked with leading firms like Supreme, Vogue, McDonald’s China and Manicer.
Reportedly, the Skyy Partner also has Kim Kardashian’s mother as a partner. Recording her reaction on the micro-blogging site twitter she wrote, that she is proud, honoured and excited all at the same time about joining.
Kim Kardashian has other businesses running as well. These businesses include Skims and a makeup brand. A few reasons attributed to the success of her businesses are her popularity on various social media platforms. It was reported in January this year that, Kardashian has property worth 3.2 billion dollars.
Before, Kardashians few other celebrities have already launched their private equity firms. A few of the prominent names on the list include Leonardo DiCaprio, Gwyneth Paltrow and Serena Williams.
According to reports, Serena ventures managed to raise $111 million in March this year. The venture which was founded in the year 2014 has an investment in more than fifty companies.
Kardashians currently has 329 million followers on Instagram. She became popular on tv shows with the show called “Keeping Up With the Kardashians,” The show reportedly ran for 15 years. According to reports Kardashian had earlier spoken about, Finance and investing,