Kim Kardashian Steps Down as Managing Partner of Private Equity Firm SKKY Partners
In a surprising turn of events, reality TV star and business mogul Kim Kardashian has announced that she will no longer be managing the private equity firm she co-founded in 2022, SKKY Partners. Kardashian, along with former Carlyle Group dealmaker Jay Sammons, had high hopes for the company, but recent filings have revealed that she is no longer an executive officer.
The news comes as a shock to many, as SKKY Partners had only recently secured a few million dollars for their flagship fund, SKIMS. Unfortunately, Kardashian’s involvement did not lead to the fundraising success that was expected. The duo had set a goal of raising $1 billion USD to acquire consumer companies, but have only managed to secure $121 million USD and complete one deal, investing in the truffle hot sauce-based company TRUFF.
Since its inception in 2022, SKKY Partners has focused solely on investing in SKKY and SKIMS, which has not been enough to diversify their portfolio as a private equity firm.
According to the SKKY Partners website, Kardashian is now only listed as a co-founder and senior operating advisor, a significant change from her previous role as managing partner alongside Sammons. Additionally, Kardashian’s mother Kris Jenner has been completely removed from the website, despite previously being listed as a senior advisor.
Neither Kardashian nor Sammons or SKKY Partners have released a statement regarding the change in management. It remains to be seen how this shakeup will affect the future of the company and its investments.
