Business
Kim Kardashian
SKKY Partners founder Kim Kardashian (Photo by Chip Somodevilla/Getty Images)
Slow Funding

Kim K's private equity struggles

Why is Kim Kardashian's SKKY Partners struggling to fundraise?

Jack Raines

It's a tale of two fundraising environments.

Kim Kardashian has, so far, only raised $121M out of a targeted $1-2B for her SKKY Partners fund in the last year and a half. KKR, meanwhile, has raised $11B out of a targeted $20B for its Global Infrastructure Investors V fund in the last five months.

Why has Kim Kardashian’s fund struggled so much? Three reasons.

First, total investments and exits in private markets have slowed dramatically since 2021. Bain noted in its 2024 Private Equity Outlook that investment and exit transaction volume are down more than 60% since 2021. Less deals and less exits mean it’s only going to be harder to raise new funding.

Bain Projections
Source: Bain Capital

Second, first-time fundraising has been hammered especially hard. In 2021, as valuations and deal volume peaked, a wave of first-time fund managers raised capital. However, with deal flow slowing, investors are now applying more scrutiny to where they invest. In their 2024 LP Perspectives Survey, Private Equity International noted that 33% of managers are less likely to invest in first-time managers over the next 12 months.

Additionally, investors have soured on the consumer space, where SKYY Partners is focusing its efforts. According to Reuters, Carlyle, Warburg Pincus, THL, and Centerbridge have all pulled back on consumer investments.

Raising money as a first-time manager to invest in an unpopular market is a tough sell for investors, even if you’re Kim Kardashian.

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Starbucks issues apology after viral “Bearista” cup meltdown

Holiday cheer turned into chaos this week for Starbucks after the coffee giant’s new “Bearista” holiday cup sent fans into a frenzy. 

Dropped alongside its 2025 holiday menu, the $30 beanie-wearing glass bear tumbler sparked long lines, sellouts, and even in-store scuffles before Starbucks stepped in with an apology.

“The excitement for our merchandise exceeded even our biggest expectations,” the company said in a statement to People. “Despite shipping more Bearista cups to our coffeehouses than almost any other item this holiday season, the Bearista cup and some other items sold out fast.”

Within hours of launch, frustrated fans flooded Starbucks’ social media pages and even store hotlines. Some customers waited in line before dawn and others said their stores received only a handful of cups. In one Houston location, the craze even turned physical, with police reportedly called to break up a brawl. Meanwhile, the cup is already reselling on sites like eBay, with listings topping $600.

“We understand many customers were excited about the Bearista cup and apologize for the disappointment this may have caused,” Starbucks said. While in-store customers may be upset, investors seem happy about the viral hit, as the stock has risen over 3% on Friday.

If you’re still hoping for a Bearista at market price, that may not be on order: the chain didn’t disclose how many cups were made or whether a restock is planned.

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Target tells workers to smile, wave, and greet shoppers if they come within 10 feet of them

Target just rolled out a new rule for store employees: smile, make eye contact, and greet or wave when a shopper comes within 10 feet — and if they get closer, within four feet, ask whether they need help or how their day is going, according to a new Bloomberg report.

Dubbed the 10-4 program internally, the rule mirrors rival Walmarts own 10-foot policy, formalizing behavior Target had previously only encouraged.

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Monster surges on energy drink buzz, while Celsius sinks on distribution concerns

Shares of Monster Beverage climbed 5% after the bell on Thursday, and held most of those gains into early trading on Friday, following strong Q3 results.

The energy drink giant topped market expectations, with quarterly sales up 17% year over year to $2.2 billion and adjusted net profits growing 41% to $524.5 million — 11% ahead of Wall Street’s estimates. In the report, Monster highlighted its zero-sugar line and new product launches, with a stack of novel flavors already released this year, as bright spots.

During a call with analysts, Chief Executive Hilton Schlosberg said that the global energy drink category “remains healthy with robust growth,” The Wall Street Journal reported, adding that demand for more affordable caffeinated drinks is rising as coffee has become “really expensive.”

Meanwhile, rival beverage business Celsius saw shares fall as much as 23% on its Q3 results yesterday — despite beating expectations, with revenue jumping 173% — largely due to concerns about a change in the company’s distribution channel, as its newly acquired Alani Nu brand joins the PepsiCo distribution network.

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