Ariel Investments launches initiative to grow minority-owned businesses with $200 million from JPMorgan Chase

"Единственное счастье в жизни — это постоянное стремление вперед." Эмиль Золя ©

Chicago-based asset management firm Ariel Investments launched a new investment arm Wednesday with a mission to fund and grow minority-owned businesses. Ariel Alternatives, which has secured $200 million in initial funding from JPMorgan Chase, plans to invest in minority-owned businesses to position them as suppliers to Fortune 500 companies. Leslie Brun, 68, an investment banking veteran, will serve as CEO of Ariel Alternatives. He said the inaugural initiative, dubbed Project Black, aims to fill a massive diversity gap in the corporate America supply chain. Fortune 500 companies spend about …

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