THE SUPERRETURN private equity conference is usually a staid affair. It's an event where people in conservative suits talk in small groups and in hushed tones, raising funds and sourcing deals. But at this year's event in Berlin this June, hundreds clamored to find a seat for a 30-minute panel. The room quickly reached capacity well before the session, titled "The Next Generation of Consumer Brands," was scheduled to begin. Some investors banged on the hotel conference room doors, pleading for a spot inside. One locked-out man got into a physical skirmish with a security guard.
The conference attendees were fighting to hear from a familiar face-Jay Sammons, a 16-year veteran of Carlyle, a top private equity firm-and one new to them: Kim Kardashian, the entrepreneur, influencer, and now private equity investor.
A year ago, Kardashian and Sammons announced their plans to launch SKKY Partners, a private equity firm reportedly aiming to raise a $1 billion fund to invest in consumer businesses. (The pair declined to confirm that figure.) The industry was intrigued by Sammons's decision to leave behind a well-respected career to partner with a member of reality TV's most famous family-and by Kardashian's interest in this usually stuffy corner of the financial world.
The Berlin crowd was enthralled with what the SKKY founders had to say. Now the whole industry is waiting to see what, exactly, this unexpected pairing will do.
This story is from the October - November 2023 edition of Fortune US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October - November 2023 edition of Fortune US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Inside the Cult of Costco
The retailer's hundreds of warehouse stores are overstuffed and overwhelming-and that's all by design. We delve into the method behind the madness that turns shoppers into obsessives.
A Disastrous Hack
The health care industry is still recovering from a cyberattack that shut down insurance payments and stole a third of Americans' health data.
The Death of the American Pharmacy
Bartell's, a beloved Seattle drugstore now owned by debt-laden Rite Aid, is closing many of its locations. Its demise is the latest symptom of a national health care crisis that hurts all of us.
The Vigilance of Satya Nadella
Ten years in as CEO, Nadella has turned Microsoft into the world's most valuable company and one of the top players in Al. He's navigated two sweeping tech transformations. His biggest worry is that he won't see the next one coming.
Walmart's Mr. Fix-It
When Doug McMillon became CEO in 2014, Walmart's sales had stagnated, and customers were defecting to Amazon in droves. Over the next 10 years, he built an e-commerce powerhouse-and extended Walmart's ironfisted hold on the Fortune 500's No. 1 spot. Can McMillon and the big-box giant stay on top in a digital age?
A 70-Year Journey in the Fortune 500 Time Machine
The 1955 list, our first-ever ranking of U.S. companies by revenue, reveals a lot about how American business once saw itself. It also shows how dramatically the economy and the list have changed.
TRAVEL BLURRING THE LINES OF FITNESS AND LUXURY AMID THE SCI-FI GLITZ OF DUBAI
GO ON VACATION.
INVEST AVIATION STOCKS ARE A BARGAIN.ARE THEY WORTH THE TURBULENCE?
IN RECENT MONTHS, Boeing's share price has fallen almost as fast as its aircraft parts have tumbled from the sky.
HEALTH THE BEST GAME PLAN FOR YOUR BRAIN AS YOU AGE
SIXTY-TWO-YEAR-OLD founder Marie Jerusalem has never felt more able to adapt to the changing demands of the corporate world. \"My body's not as agile as it used to be, but mentally I'm stronger today than I've probably ever been in my entire career,\" she tells Fortune.
TECH SILICON VALLEY STARTUPS ARE INVADING THE MILITARY MARKET
AT THE END of February 2022-a few days after cofounders Luke Allen and Steven Simoni sold their 90-person restaurant-tech startup to DoorDash― Russia invaded Ukraine.