Former Carlyle exec Jay Sammons has teamed up with Kim Kardashian in the launch of SKKY Partners, a private equity firm set to capitalize on the founders’ collective experience investing in and building large-scale consumer and media businesses.
The assets at launch were not disclosed, but the target sectors for the firm include consumer products, digital & e-commerce, consumer media & entertainment, hospitality and luxury. Kardashian and Sammons will serve as co-founders and co-managing partners, while Kris Jenner will serve as a partner at the firm.
Kardashian is in charge of driving the origination of SKKY’s investment opportunities.
“I’m excited to launch SKKY Partners to invest in the next generation of consumer brands, leveraging my experience founding and building global businesses and partnering with innovative companies to help them grow,” Kardashian said in a statement. “I look forward to working closely with Jay and our team to identify distinctive investment opportunities and build the firm’s portfolio of world class companies for our investors.”
Sammons has spent the last two decades investing in many of the world’s most well-known consumer brands, including over 16 years at Carlyle. In his most recent role as Carlyle’s global head of Consumer, Media and Retail, he developed a reputation for his ability to partner with founders and business builders in high-growth consumer and media companies to create lasting value, often through exits to market-leading strategic acquirers.
“I have been privileged to spend my career partnering with the founders and leaders of some of the most influential and culturally groundbreaking consumer brands of our time,” added Sammons. “Now, in partnership with Kim and Kris, I look forward to building SKKY into the leading private equity firm that backs the next generation of innovative, disruptive consumer businesses and brands.”
He will lead the day-to-day operations of the firm, including originating investment opportunities, managing the team and driving performance in the portfolio.
Jenner, who has overseen the development of her family’s multi-billion-dollar collection of businesses, will also partner with the team to identify and pursue differentiated investment opportunities, and to drive strategy, impact and value.