Ariel Investments Closes $1.45 Billion Fund For Minority-Owned Companies
Written by Black Hot Fire Network on February 2, 2023
Ariel Investments, one of the largest Black-owned asset management companies in the U.S., recently announced the closing of Project Black, LP, its first private equity initiative.
The fund seeks to invest in middle-market companies with revenue between $100 million and $1 billion, with a focus on transforming these companies into certified minority business enterprises of scale.
Project Black will leverage $1.45 billion in commitments from its limited partners and co-investors, who come . . .
