Kim Kardashian knows business, and the world agrees. It is no surprise that she pitched her new PE venture to a bursting-at-the-seams room at a Berlin conference. She may have risen to fame with her reality TV series, but the world now focuses on the Skims (doubled in value in less than a year to $3.2 billion) founder and her private equity firm SKKY Partners.
At the SuperReturn conference, the mother of four shared, “I am most looking forward to my relationships with the founders. I love hearing people’s stories and hearing what their magic sauce is behind their company and why they wanted to start the company that they did and what their vision is and just hope that I can help that.”
SKKY aims to bank on her star power for at least $1 billion. SKKY is looking for 10 to 12 investments, needing $100 to $500 million each, for a $10 million minimum from its limited partners, with a hurdle rate of 8% compounded annually, described as “the minimum return Skky needs before earning carried interest.” This was not the billionaire entrepreneur’s first experience with a zealous audience.
Earlier this year, at a Miami hedge fund event where tickets cost around $10,000, Kim attracted a massive audience with people overflowing in rooms. iConnections CEO Ron Biscardi shared, “She received huge applause when she walked out onto the stage. It was standing room only in the room where she spoke, with people spilling into the hallway. We had even more people in overflow rooms where the video was streamed to accommodate the sell-out crowd.” Biscardi added, “I was happy to see so much support for a female fund manager in an industry dominated by men.”
