Ariel Investments launches private investment firm

The Chicago-based, $15 billion value investment firm Ariel Investments is making its initial foray into the private investment sphere, with a focus on promoting successful minority entrepreneurship and racial equity initiatives.

Leslie Brun and Mellody Hobson have been named co-founders of the new Ariel Alternatives unit and will spearhead efforts of the firm’s Project Black team.

Ariel Alternatives’ initial strategic initiative Project Black will have a mission to scale sustainable minority-owned businesses. The firm will invest in middle-market companies that are not currently minority owned and transforming them into certified . . .

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