Ariel Investments
| Company type | Private |
|---|---|
| Industry | Investment management |
| Founded | 1983 |
| Founder | John W. Rogers, Jr. |
| Headquarters | Chicago , United States |
Key people | John W. Rogers, Jr. (Chairman, co-CEO, CIO), Mellody Hobson (President, co-CEO) |
| Products | Small-cap value funds, mid-cap value funds, private equity funds |
| Owner | Employees and board members (95%) |
Number of employees | 143 (2025) |
| Website | www |
Ariel Investments is an investment firm headquartered in Chicago, concentrating on U.S. small and mid-cap equity securities.
History
Established in 1983 by John W. Rogers, Jr., who currently holds the positions of chairman, co-CEO, and chief investment officer, Ariel initially launched with the small-cap value Ariel Fund, which Rogers still oversees. In 2002, the company introduced the mid-cap value Ariel Appreciation Fund. This fund was first managed by then-vice chairman Eric McKissack until his departure that same year. Rogers took over management of this fund until he stepped down in February 2025.
In 2004, Charlie Bobrinskoy joined as vice chairman and began managing the Ariel Focus Fund starting in 2005.
The firm underwent a name change from Ariel Capital Management to Ariel Investments in May 2008. However, during the 2008 bear market, the company experienced difficulties that led to a reduction of its workforce by approximately 20%.
By 2011, Ariel expanded its operations by establishing an all-cap global and international team based in New York City. In 2021, it launched Ariel Alternatives, a private equity arm aimed at growing middle-market minority-owned enterprises under the initiative called Project Black. In 2025, the firm introduced Project Level, a private equity fund dedicated to investing in women's sports.
In April 2025, as part of succession planning efforts, eight senior staff members accepted buyout offers. This group included essential personnel from portfolio management and compliance teams. The decision followed significant decreases in assets under management for Ariel’s leading funds since 2020.
Mellody Hobson has served as president since May 2000 and was appointed co-CEO in July 2019. During this leadership transition, Rogers sold a portion of his shares to Hobson, making her the largest individual shareholder with a 39.5% stake, while Rogers’ ownership decreased from 49% to 34.1%.
Currently, Ariel employs 143 individuals and is predominantly owned by employees and its board members, comprising 95% ownership. As of 2025, the firm manages assets totaling $13.8 billion.
As a minority-owned enterprise, Ariel asserts that it is the largest investment firm owned by minorities. The company actively supports community programs within Chicago’s Bronzeville neighborhood through collaborations with nonprofit organizations.
Ariel Community Academy
In 1996, Ariel Investments became the corporate sponsor of a Chicago public school on the Southside through the New School Initiative Program launched by former Chicago Mayor Richard M. Daley, which resulted in the creation of Ariel Community Academy.
Logo
The emblem of Ariel incorporates the tortoise, representing the concept "Slow and steady wins the race," a theme drawn from Aesop's fable.
Notable people
- Arne Duncan, who served as United States Secretary of Education, previously directed the Ariel Education Initiative that managed Ariel Community Academy
- Daniel Hynes, ex-Illinois Comptroller and participant in Ariel’s marketing division
- Kareem Maddox, professional basketball player and former intern at Ariel
- Matthew T. McGuire, once U.S. executive director at the World Bank Group and formerly part of Ariel’s marketing team
- Jamil Soriano, ex-player for the New England Patriots and former member of Ariel’s research staff
- Jason J. Tyler, previous CFO at Northern Trust Corporation and earlier contributor to Ariel’s research group
- Jason Wright, past president of the Washington Commanders; currently managing partner and chief investment officer for Ariel’s Project Level fund
- Jitim Young, professional basketball athlete and former intern with Ariel