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]
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
It's the mega-RIA firm's third $1B+ acquisition in just three months.
The deal marks a strategic entry into private asst markets for the ETP, ETF innovator.
Wall Street leaders propose ways to monetize the mortgage giants.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
