Watch out Blackstone Inc BX, Kim Kardashian is making her way into private equity.
The 41-year-old reality TV personality is collaborating with Jay Sammons, a former executive at Carlyle Group CG, to found SKKY Partners, a PE group that will make investments in rapidly expanding companies across a variety of industries, including hospitality, media, and consumer goods.
Forbes estimates that Kardashian, who gained notoriety after being featured on the "Keeping Up With the Kardashians" reality show, has a net worth of $1.8 billion.
Around the same time, in May, Kardashian was named “Chief Taste Consultant” after inking an endorsement deal with Beyond Meat Inc BYND to promote the company’s plant-based protein products.
While married to rapper Kanye West, in 2017, he gifted her with a swath of shares from blue-chip companies including, Walt Disney Co DIS — which is the majority owner of Hulu, where "Keeping Up With the Kardashians" currently airs — Amazon.com, Inc AMZN, and Netflix Inc NFLX.
Kardashian's newly formed PE group's day-to-day operations will be managed by Sammons, a 16-year Carlyle veteran, who has made successful investments in well-known companies like Beats by Dre, a line of headphones founded by the rapper Dr. Dre and later acquired for $3 billion by Apple Inc AAPL.
The 41-year-old joins celebrities like Gwyneth Paltrow, Leonardo DiCaprio, and Ashton Kutcher in starting their own PE and VC investing funds.
Photo: Courtesy of Eva Rinaldi on flickr
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