Kim Kardashian is the new Steve Schwartzman
You know the industry has peaked when "Kim Kardashian" and "private equity" are used in the same sentence. Hopefully I don't walk into my office one day with Riley Reid as my MD.
https://www.reuters.com/business/media-telecom/ki…
EDIT #1: ACTUALLY, wouldn't mind Riley Reid on second thought.
EDIT #2: Not salty at all, but can we agree that Kim is not an ideal role model? Would any of you marry Kim, given her “history”? Also, it's one thing to invest in PE funds as an LP or start a family office, but to be a GP? I thought investors we all about "track record", "savviness" and "character". Just because KK is super rich doesn't make her an shrewd investor; all of her money came from one industry: marketing.
Guess time will tell who keeps up with the Kardashians. Would totally recruit for her firm if I didn't have a sweet gig already.
Do you get this salty about every billionaire who decides to start a private investing fund / family office? "Breaking in" lololol.
Also whether you like it or not, having Kim K as a GP is a massive value add to any growth focused consumer fund. Companies backed by SKKY get instant publicity and access to a massive fanbase. You don't think Kim's gonna start promoting her portfolio companies on social media?
How do you think about exit
A lot of celebrities do this. You have to find a way to make your money work when you have as much as they do. If you don't grow it then you lose it through inflation.
Love how you say “breaking in” as if it’s some ultra exclusive industry for only “smart” people. Plenty of billionaires start PEs and family offices. Personally think the whole family is brilliant; they’ve managed to generate insane wealth. Will be interesting to see what they acquire.
They can come acquire this dick
Now suddenly all my friends want to know what PE is at least. I feel seen lol
This entire post makes no sense and is just salty for no reason. the entire PE industry are rich people + friends finding ways to make money and you're pissed one of the wealthiest families is 'breaking in" as if they're actually "breaking in"
also, you can't complain about amateur porn starts then reference Riley Reid
This venture is genius, this family has created some incredibly successful brands and its a no brainer to go into consumer PE... anyone know their headhunter?
Wanna to reply to your edits and I get where you're coming from, but I still fundamentally disagree with your points.
Kim Kardashian isn't starting a PE firm to be a pillar of morality. In fact, i get that you all read Warren Buffet/Steve Swartzman's books but heads of Private equity are shit role models for morality, I will die on this hill.
And we're bringing partners into the mix?? besides the fact that these PE founders could bankroll my life, I see no solid argument that I'd want either of them as husbands either.
She has track record, and savviness and honestly, who determines if she has character? she's going into Consumer PE. You bet your ass marketing is important there, I think we all need to give marketers a bit more credit, we all slave away at these ridiculous jobs to give our cash to the marketers who tell us where to spend our money.
Dude your firm needs to sign you up for like, gender sensitivity training
According to Kanye: "Diahhrea Capital Partners"
You can't really fault her for cashing in on her fame...if you were in her shoes, you'd probably be doing the same exact thing
However, I agree that it's kind of sad that people actually buy into the kardashian cult, and the fact that she's most likely actually a real value add to a fund
Makes you wonder how long it's going to be until corporate America is being run by influencers and tik tok teens
Funny enough there’s a guy named Josh Richards who has a couple mil on tiktok and he started his own VC firm I believe (it could have been pe but I don’t care enough to check) called Animal Capital. No idea how much influence he actually has in the process or how well they actually perform.
She is good at marketing and guess what that pays well. Just because marketing is an easy major in college doesn’t mean it’s not a super useful tool and it’s been spitting out billionaires. Her marketing knowledge will probably come in handy as she runs a consumer focused fund
"Marketing Knowledge" seems like a stretch--I'd say marketing tool
1) She obviously won’t be crunching numbers or negotiating specific deal terms.
2) Every PE firm, especially a new one, needs to think about differentiated sources of deal flow. KK almost certainly has top notch relationships in the consumer/beauty sector, and wheeling her out when the sponsor is trying to sell a management team on choosing them in a broad auction probably goes a long way.
Nah those two are NOT comparable, Steve Schwarzmann has a way better ass
Does he have an amateur sex tape as well?
he has a professional one
How much did they raise?
Kim’s got a hitter from Carlyle on the team. Bet they’ll raise a ton
who? any source on this?
Aren't you a working professional? How can you not acknowledge the massive value of brand name? She might be dumb as a trunk, but that won't matter in the slightest. You think she sits down and makes investment decisions??? track record savviness character, are you high? She literally just has to slap her name on any firm, hire a bunch of excel monkeys, few bright heads and she will make billions. Get you head out of your ass
Lol exactly
Didn't realize that ivy eduated LPs and allocators were so naive.
One social media post to promote a consumer brand product will create more value for a company than you will in your entire life.
Let's not forget that Kylie Jenner wiped out almost 2bn market cap of Snap Chat by tweeting she didnt use it anymore.
To add on, your weird moralizing about how the Kardashian family made their money is incredibly strange. Like what about her makes her history so much worse than any other PE billionaire? Because she had a sex tape leaked against her will?
Against her will? That sex tape is literally the only reason she's raising a "PE fund" today. She and her whole family are happy it leaked, and that just rubs me in the wrong way.
Personally I'm not even that conservative. I believe the Kardashians have been net negative for society. She has millions of young followers, but what do they gain? Some actually look up to her/her family. It's all reality TV bullshit, going from one guy to the next, advocating excessive consumerism, plastic surgery, spending an unhealthy amount of time on social media, etc.
Not saying PE folks are angels, but there is value and benefit for teachers, firefighters, police officers, among others.
PE creates negative value for the working class.
So much for the pure capitalists on this site shitting on Kim for a legitimately savvy business move. Now you suddenly care how someone made their riches? Consumer brands (especially luxury and beauty) is 95% marketing and guess what - Kim K is the influencer that has that marketing down to a T. She's not running the firm, the Carlyle guy is, if anything she'll attract loads of money for that team to play with and I'll imagine they'll have some pretty good returns in the next 10 years. If they're smart they'll HQ in LA and dominate the media / plastic beauty market there. I think it's commendable she's transitioning to make "legitimate" money since the bag from being hot is surely finite. My bet is SKKY will eventually rival the likes of Providence, LGP, Silver Lake, etc. in the media and consumer space soon - and if the pay is right they'll surely attract top talent as well. Don't be naive.
I actually care about how I earn my money. No, I wouldn't go to whatever length necessary to make a buck. Strippers, con artists and other criminals probably make way more than I do-- doesn't mean they are respectible.
So I imagine you've boycotted Vista Equity, considering their founder, Robert Smith, was caught up for tax fraud.
I also imagine you keep the same energy for TPG Growth, since one of their founders, Bill McGlashan (instrumental to the Rise Fund incidentally!), was convicted for wire fraud in the college admission scandal.
Both of these being crimes btw, Kim K just released a sex tape, as a legal adult - and she's not even running the fund like these guys. You can shove that righteousness right up your ass considering private equity has always been making money first and asking questions second, but I'm glad you're one of the real good guys out there lmao.
1. the sex tape was leaked...she then capitalized on the opportunity to create generational wealth for her entire family. can't hate that
2. just because YOU don't respect a stripper, doesn't mean everyone else feels the same way. I respect any stripper more than a MF Partner that cheats on his wife and neglects his children. Different people can have different values.
obviously only estimates, but how long until you see this happening?
anyone know their HH?
they probably use a HEAD hunter... ayyy
They probably won’t recruit for at least a year to do a formal Fundraise/get an office/basic core hiring for other seniors and admin. Probably next cycle.
Leon Black donates millions to Epstein…..nothing
Kim K launches her own fund, everyone loses their minds 🤣
Look ultimately nobody likes it when a Hooker does this well in the industry because you always want the hooker to have stock options not to actually own the capital. That’s for us. but ultimately this is the world now. We need to man up or walk away
What does Kim not being an ideal role model have anything to do with it? Do you think your average PE MD is an ideal role model? Historically neglected their families due to making money. Many come from wealthy families with established relationships
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