Ariel Investments launches firm to build minority businesses

Ariel Investments has launched a private asset management firm, Ariel Alternatives, whose mission is to help build sustainable minority-owned businesses.

Ariel Alternatives intends to invest in middle-market companies that are not currently minority owned and transform them into certified minority business enterprises, as well as investing in existing Black and Hispanic-owned businesses.

The goal, Ariel said in a release, is to position these companies as leading suppliers to Fortune 500 companies, thereby supporting supply chain diversity.

Ariel said that JPMorgan Chase & Co. has committed up to $200 million to be co-invested alongside what will be known as Project Black.

[More: Diversity among those developing financial products and services is crucial to full engagement]

Financial advice goes viral on social media

The post Ariel Investments launches firm to build minority businesses appeared first on InvestmentNews.

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *