Ariel Alternatives seeks to close the racial wealth gap, plus a dive into HSAs

Episode 37

Episode Summary

Les Brun, co-founder of Ariel Alternatives, shares his vision for "Project Black," the firm's initiative to invest in middle-market companies to scale the number of minority-owned businesses. InvestmentNews' own Emile Hallez joins to discuss HSAs, their potential benefits for clients and how advisers can work with them.

Episode Notes

Interview with Les Brun 1:00-20:45

  • Background on Ariel Alternatives
  • How does this play out specifically?
  • Definition of minority-owned enterprises
  • The new spin on private equity
  • Scaling up diversity
  • The distinction between ownership and leadership
  • Role of JPMorgan and other investors
  • What’s next

Interview with Emile Hallez 20:55-32:30

  • Health savings accounts’ rise in popularity
  • How much do/should advisers push them
  • Who’s actually using and investing their HSAs?
  • Where HSAs fit in to the health landscape

Related Article:  Ariel Investments launches firm to build minority businesses

Related Article:  HSAs, an adviser favorite, just don’t get much love

Ariel Alternatives Press Release

Guest Bio: Les Brun is chairman and CEO of Sarr Group. Previously, he was a managing director and head of investor relations at CCMP Capital Advisors. Les also founded Hamilton Lane, the world’s leading private equity advisory and management firm. He is currently chairman of Broadridge Financial Solutions Inc. and CDK Global Inc., and lead director of Merck & Co. Inc. He serves on the Board of Corning Inc. and NXT Capital, and is a member of the Council on Foreign Relations. Formerly, he was chair of Automatic Data Processing Inc. and chair and board member of Hewlett Packard Enterprise.

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