African Americans have made great strides in the investment industry, establishing prominent investment firms and gaining increasing wealth and influence. However, discrimination and disparities still exist. This article will provide an overview of major African American owned investment firms, their assets under management, areas of focus, notable deals, challenges faced, and the current state of African American wealth and investment.
Ariel Investments Founded in 1983 Has Over $13 Billion in Assets
Ariel Investments, founded in 1983 by John W. Rogers Jr. in Chicago, is one of the oldest and largest African American owned investment firms. It started with just $50,000 in seed capital and now manages over $13 billion in assets. The firm takes a patient, value-oriented long-term approach, investing in undervalued small and mid-sized companies. Ariel focuses on just a handful of sectors including financial services, consumer discretionary, technology, and healthcare. Some notable holdings are Starbucks, JPMorgan Chase, Microsoft, and Nike. Ariel has faced discrimination, with some institutional investors reluctant to trust a black-owned firm. But performance won over skepticism as assets steadily grew.
Loop Capital Markets Established in 1997 Manages Over $7 Billion
Loop Capital Markets is an investment bank, brokerage and advisory firm established in 1997 by James Reynolds Jr. in Chicago. Reynolds started by raising just $250,000 from friends and family. Today, Loop Capital manages over $7 billion in assets and generates around $300 million in annual revenue. The firm focuses on trading, underwriting, and advising clients in industries like real estate, healthcare, media, insurance, and more. Loop Capital has managed bond offerings for state and local governments and worked on IPOs. However, Reynolds has faced challenges in breaking into the old boys club of Wall Street.
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In summary, major African American owned investment firms like Ariel Investments and Loop Capital have billions under management but still face challenges breaking into the upper echelons of finance. While progress has been made, discrimination persists and African American wealth lags far behind other groups.