Private Equity is the newest investment branch of socialite 

Kim Kardashian, who already patents brands in the areas of beauty and aesthetics.

Aiming to expand business, Kim Kardashian and Jay Sammons

former partner at the Carlyle Group, have teamed up to publicly announce the launch 

of the 'SKKY Partners' private equity firm, the Wall Street Journal reported.

According to Forbes, SKKY will be an investment vehicle that

will target consumer, digital, media, hospitality and luxury companies. Operations 

will be overseen by Jay, who served as head of consumer, media and retail at Carlyle.

Amid the announcement, Sammons also stated that Kris Jenner, Kardashian's mother, will 

be one of SKKY's partners, but did not go into details about the funds or other potential investors.