Keeping Up With Kim Kardashian: She and Ex-Carlyle Executive Debut PE Fund Skky Partners
Reality TV star Kim Kardashian unveiled her debut private equity fund to an eager crowd of investors at the SuperReturn conference in Berlin on Wednesday.
Kim joined forces with Jay Sammons, a former executive from Carlyle Group Inc (NYSE: CG), to establish Skky Partners. Their panel discussion became the highlight of the three-day event.
During the panel discussion, questions regarding Skky's strategy were predominantly directed at Sammons, Bloomberg reported, while Kardashian was asked about her influential career and personal life.
With a focus on consumer brands, Skky Partners presented Kardashian's social media following and history of success in promoting beauty and retail labels as a part of their pitch to investors.
The fund says Kardashian's social media following is part of the pitch.
Kardashian has faced previous criticism for leveraging her social media presence to promote investment opportunities. Recently, a US district judge allowed a case to proceed, alleging that Kardashian made false claims about a cryptocurrency called EthereumMax.
The private equity was launched in September 2022 to invest in ten to twelve ventures related to consumer and media industries, seeking equity ranging from $100 million to $500 million for each investment.
The firm is asking for a minimum $10 million commitment from limited partners, the report noted, with documents showing a hurdle rate of 8% compounded annually, which is the minimum return Skky needs before earning carried interest.
Photo via Wikimedia Commons
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This article Keeping Up With Kim Kardashian: She and Ex-Carlyle Executive Debut PE Fund Skky Partners originally appeared on Benzinga.com
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