Kim K. announced yesterday that she's about to dabble in private equity. That is, when she isn't busy making the founding fathers proud, of course…
In partnership with a grizzled PE vet, former Carlyle Group partner Jay Sammons, Kim K. will launch SKKY Partners. And I'm pretty sure they came up with that by way of an online "random stripper name generator."
If you're wondering "wtf does private equity mean?"… it's simple really: Kim and Jay (probably just a coincidence that Kim and Skete broke up just weeks before this announcement, if you catch my drift) will raise a bunch of money from their rich friends (probably not Kanye) and invest it in private companies (hence the 'private'). SKKY will focus it efforts on growing consumer, hospitality, luxury, digital commerce and entertainment businesses.
In accordance with the blood oath Kim made with the devil, Kris Jenner has been named an operating partner. No word on if Ray J has been offered carried interest for his role in propelling Kim to fame.
Snap necks and cash checks,
Tyler (@JPMorinChase on Twitter)
BTW, Large and I host a weekly podcast called The Family Office. We discuss the biggest finance and markets' stories and are taking you along for the ride as we invest our own money. Watch on YouTube. Or listen on Spotify or Apple.