Kim Kardashian is the latest celebrity to try her hand at private equity investing, joining with longtime Carlyle Group executive Jay Sammons to start a new firm.

Skky Partners will focus on investments in the consumer and media industry, with Kardashian and Sammons serving as co-founders and co-managing partners. Kardashian’s mother, Kris Jenner, will also be a partner at the firm, according to a Skky statement on Wednesday.

The pair will bring to the venture “a long history of investing capabilities and experience of working with high-growth brands that are disruptors,” Sammons said in an interview.

Reality television star Kardashian is transforming her career after building multibillion-dollar businesses including undergarment company Skims, which this year raised funds at a valuation of more than $US3 billion ($4.4 billion). Sammons worked at Carlyle for nearly 17 years, and was associated with investments including Beats by Dre, skincare company Philosophy and Beautycounter.

Sammons, who was global head of consumer, media and retail at Carlyle before leaving this year, met Kardashian through a mutual friend in 2016, Sammons said. The two kept in touch as business and personal contacts. The former Carlyle partner approached Kardashian earlier this year to start a new venture.

“Kim has started two businesses that sophisticated investors have valued over $US1 billion,” Sammons said, referring to Skims and her KKW Beauty brand, which sold a stake to Coty in 2020. “She’s an incredibly accomplished entrepreneur and investor.”

“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.

“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.”