Photo Courtesy Black Enterprise
Ariel Investments, the first black-owned mutual fund firm in the nation, announced the launch of Ariel Alternatives and the Project Black initiative.
The firm is stepping into the private fund business with a $200 million commitment from JPMorgan Chase. Led by Ariel Investments co-CEO Mellody Hobson and global investment manager Leslie A Brun, the fund seeks to invest and scale minority-owned businesses to close the racial wealth gap.
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