Kim Kardashian ventures into private equity with new company

The reality TV star co-founded SKKY Partners with Jay Sammons to invest in consumer products, e-commerce, hospitality and luxury

Paris Hilton and Kim Kardashian, in traditional dirndl dresses, attend Oktoberfest on September 25, 2006 in Munich, Germany. Getty Images

Kim Kardashian, in a silver mini dress, arrives at the MTV Australia Awards at the Australian Technology Park on April 26, 2008 in Sydney, Australia. Getty Images

Khloe and Kim Kardashian, in a scarf and jeans, attend a press conference at the Museum of Contemporary Art on April 29, 2008 in Sydney, Australia. Getty Images

Kim Kardashian, in a black bead-encrusted dress, attends the launch of the new Jimmy Choo boutique at Castlereagh Street on April 30, 2008 in Sydney, Australia. Getty Images

Kim Kardashian, in a fishtail gown, attends the Golden Nymph awards at Grimaldi Forum on June 12, 2008 in Monte Carlo, Monaco. Getty Images

Kim Kardashian, in a LBD, arrives at the Grimaldi Forum during the Monte Carlo Television Festival on June 9, 2009 in Monte Carlo, Monaco. Getty Images

Kim Kardashian, in a strapless mini, and Kris Kardashian at the Monte Carlo Television Festival on June 10, 2009 in Monte Carlo, Monaco. Getty Images

Kim Kardashian, in a sequinned gown, arrives at the closing ceremony of the Monte Carlo Television Festival on June 11, 2009 in Monte Carlo, Monaco. Getty Images

Kim Kardashian, in a leather jacket and striped dress, makes an in-store appearance at Optus on April 19, 2010 in Sydney, Australia. Getty Images

Kim Kardashian, in a monochrome gown, and Greta Van Susteren arrive at the MSNBC afterparty following the White House Correspondents' Association dinner on May 1, 2010 in Washington, DC. Getty Images

Kim Kardashian, in a ruffled mini and blazer, leaves the Ritz hotel on September 15, 2010 in Paris, France. Getty Images

Kim Kardashian, in a white halterneck, and Kris Humphries arrive at the Amber Lounge Fashion Monaco show on May 27, 2011 in Monaco. Getty Images

Kim Kardashian, in a strapless evening gown, attends Glamour Women of the Year Awards on June 7, 2011 in London, England. Getty Images

Kim Kardashian, in Gucci, poses during her fragrance launch at Debenhams on June 8, 2011 in London, England. Getty Images

Kim Kardashian, in a fur stole, attends the Kanye West show as part of Paris Fashion Week at Halle Freyssinet on March 6, 2012 in Paris, France. Getty Images

Kim Kardashian, in Emilio Pucci, launches her fragrance at the Rose Club on May 18, 2012 in London, UK. Getty Images

Kim Kardashian, in Elie Saab, arrives at amfAR's Cinema Against Aids gala during the 65th annual Cannes Film Festival on May 24, 2012 in Cap D'Antibes, France. Getty Images

Kim Kardashian, in Stephane Rolland, attends the MTV EMAs at Festhalle Frankfurt on November 11, 2012 in Frankfurt, Germany. Getty Images

Kim Kardashian, in Givenchy, and Kanye West attend the Givenchy show as part of Paris Fashion Week on March 3, 2013 in Paris, France. Getty Images

Kim Kardashian, in Givenchy, and Kanye West attend the Met Gala in New York on May 6, 2013. EPA

Kim Kardashian, in Givenchy, and Kanye West attend the Givenchy show as part of Paris Fashion Week on September 29, 2013 in Paris, France. Getty Images

Kim Kardashian, in Stephane Rolland, attends the Stephane Rolland show as part of Paris Fashion Week Haute on January 21, 2014 in Paris, France. Getty Images

Kim Kardashian, in Lanvin, arrives for the Met Gala in New York on May 5, 2014. EPA

Kim Kardashian, in Valentino, attends the Valentino show as part of Paris Fashion Week on July 9, 2014 in Paris, France. Getty Images

Kim Kardashian, in Ralph & Russo, attends the GQ Men of the Year awards at The Royal Opera House on September 2, 2014 in London, England. Getty Images

Kanye West and Kim Kardashian, in Lanvin, attend the Lanvin show as part of Paris Fashion Week on March 5, 2015 in Paris, France. Getty Images

Kim Kardashian, in Jean Paul Gaultier, arrives for the 57th annual Grammy Awards held at the Staples Centre in Los Angeles, California, on February 8, 2015. EPA

Kim Kardashian, in a draped midi dress, at Marionnaud Champs Elysees on April 15, 2015 in Paris, France. Getty Images

Kanye West and Kim Kardashian, in Sophie Theallet, arrive at the Time 100 Gala in New York on April 21, 2015. EPA

Kanye West and Kim Kardashian, in Balmain, arrive at the MTV Video Music Awards at the Microsoft Theatre in Los Angeles, California, on August 30, 2015. EPA

Kim Kardashian, in Balmain, arrives at the Met Gala in New York on May 2, 2016. EPA

Kim Kardashian, in Lan Yu Couture, attends the De Grisogono Party at the annual 69th Cannes Film Festival on May 17, 2016 in Cap d'Antibes, France. Getty Images

Kim Kardashian, in Galliano, and Kayne West arrive at the MTV Video Music Awards at Madison Square Garden in New York on August 28, 2016. EPA

Kim Kardashian, in Givenchy, attends a Buro 24/7 party as part of Paris Fashion Week on September 30, 2016 in Paris, France. Getty Images

Kim Kardashian, in Tom Ford, arrives at the Lacma Art + Film Gala at the Los Angeles County Museum of Art in Los Angeles, California, on November 4, 2017. EPA

Kim Kardashian, in Vivienne Westwood, arrives at the Met Gala in New York on May 1, 2017. EPA

Kim Kardashian, in Versace, arrives at the Met Gala in New York on May 7, 2018. EPA

Kim Kardashian, in Versace, arrives at the MTV Movie and TV Awards at the Barker Hanger in Santa Monica, California, on June 16, 2018. EPA

Kim Kardashian, in Louis Vuitton, attends the Louis Vuitton show as part of Paris Fashion Week on June 21, 2018 in Paris, France. Getty Images

Kim Kardashian, in Gucci, arrives at the Lacma Art + Film Gala at the Los Angeles County Museum of Art in Los Angeles, California, on November 3, 2018. EPA

Kim Kardashian, in Thierry Mugler, arrives at the Met Gala in New York on May 6, 2019. EPA

Kim Kardashian, in Versace, arrives at the Creative Arts Emmy Awards at the Microsoft Theatre in Los Angeles, California, on September 14, 2019. EPA

Kim Kardashian, in Versace, arrives at the People's Choice Awards at the Barker Hangar in Santa Monica, California, on November 10, 2019. EPA

Kim Kardashian, in Alexander McQueen, and Kanye West attend the Vanity Fair Oscar Party in Beverly Hills, California, on February 9, 2020. EPA

Kim Kardashian wears Marilyn Monroe's dress for the 2022 Met Gala at the Metropolitan Museum of Art on May 2, 2022, in New York. AFP

Billionaire reality television star and businesswoman Kim Kardashian has co-founded a private equity company that will focus on sectors including consumer products, digital and e-commerce, consumer media, hospitality and luxury, according to a tweet she posted on Wednesday.

Kardashian, who has an estimated net worth of $1.4 billion, co-founded SKKY Partners with Jay Sammons, the former New York-based global head of consumer, media and retail at the Carlyle Group, one of the world's largest private equity companies with $376bn of assets under management.

Her mother, Kris Jenner, will be a partner in the company.

“I’m pleased to announce the launch of @SKKYPartners with private equity veteran Jay Sammons as co-founder and co-managing partner, along with @KrisJenner who will serve as partner at our firm,” Kardashian said in the tweet.

“Together we hope to leverage our complementary expertise to build the next generation Consumer & Media private equity firm.”

SKKY Partners' website currently has no information except for contact details. However, visitors to the website can sign up to receive email updates.

The majority of Kardashian's net worth derives from equity stakes in KKW Beauty, a direct-to-consumer cosmetic and fragrance company, and Skims, her shapewear business, according to Forbes magazine.

However, endorsements, appearance fees, her salary from reality TV show Keeping Up with the Kardashians and paid Instagram sponsorships also contribute to Kardashian's annual earnings that total an estimated $50 million to $80m per year, according to wealth tracking website Celebrity Net Worth.

In 2020, Kardashian sold 20 per cent of KKW Beauty to Coty, the French-American multinational beauty company, for $200m in a deal that valued the company at $1bn, it said.

“In 2019, she raised $5m from venture capital firm Imaginary Ventures to launch a line of shapewear called Skims. In 2021, Skims raised $154m at a valuation of $1.6bn. Even after the massive financing round, Kim remained the majority owner,” Celebrity Net Worth said.

Meanwhile, Mr Sammons left Carlyle in July to “start a new venture that will make investments in the consumer sector”, Bloomberg reported on August 8.

Mr Sammons joined Carlyle in 2006 and worked on investments in companies including Beats Electronics, Beautycounter, Vogue International, Supreme and Grupo Madero, it said.