Ariel Alternatives, Llc
SEC-registered
Private Fund Manager · Mid-sized ($1B–$10B)
CRD 314178
· SEC file 801-121577
· Chicago, IL
· www.linkedin.com
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ADV data as of Jul 16, 2026
- Regulatory AUM
- $1.5B
- Discretionary
- $1.5B
- Clients
- 6
- Avg AUM / client
- $252M
- Accounts
- 6
- Employees
- 57
AUM over time
$0
$1.6B
May 2021
Jul 2026
Annual snapshots from Form ADV filings · as of Jul 16, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 6 | $1.5B | 100.0% |
Private funds (3)
Reported in Form ADV Section 7.B.(1), filing of Sep 2024 · $1.6B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Project Black, Lp | Private Equity Fund | Delaware | $1.4B | 13 |
| Project Black Coordinated Participation Fund, Lp | Private Equity Fund | Delaware | $112M | 2 |
| Project Black Sparta Ii Inclusion Co Investment Llc | Private Equity Fund | Delaware | $97.5M | 2 |
People (23)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Hobson Lucas, Mellody, Louise | Co Ceo, President And Director (And Co Founder, Ariel Alternatives, Llc) | May 2000 (26y) | ≈ 18.75% – 50% via Ariel Investments, Llc | |
| Rogers, John, Washington | Shareholder | Feb 2004 (23y) | ≈ 9.38% – 37.5% via Ariel Capital Management Holdings, Inc. | |
| Cremers, Klaas, Jan, Martijn | Director | Jul 2019 (7y) | GP / trustee / elected manager of Ariel Investments, Llc (indirect) | |
| Duncan, Arne, Starkey | Director | Jul 2019 (7y) | GP / trustee / elected manager of Ariel Investments, Llc (indirect) | |
| Jarrett, Valerie, Bowman | Director | Jul 2019 (7y) | GP / trustee / elected manager of Ariel Investments, Llc (indirect) | |
| Tookes, Heather, Elise | Director | Jul 2019 (7y) | GP / trustee / elected manager of Ariel Investments, Llc (indirect) | |
| Wolff, Paula | Director | Jul 2019 (7y) | GP / trustee / elected manager of Ariel Investments, Llc (indirect) | |
| Merchant, Fazal, Farook | Director | Mar 2021 (5y) | GP / trustee / elected manager of Ariel Investments, Llc (indirect) | |
| Romero, Anthony, David | Director | Mar 2021 (5y) | GP / trustee / elected manager of Ariel Investments, Llc (indirect) | |
| Alves, Paget, Leonard | Manager | Apr 2021 (5y) | Less than 5% | |
| Brun, Leslie, Adolphe | Chairman, Chief Executive Officer, Co Founder, And Manager | Apr 2021 (5y) | 5% – 10% | |
| Lewis, William, Milton | Manager | Apr 2021 (5y) | Less than 5% | |
| Vitale, David, John | Manager | Apr 2021 (5y) | Less than 5% | |
| Calderon, Carlos, Estuardo | Chief Financial Officer | Jun 2021 (5y) | Less than 5% | |
| Smith, Judy, Arline | Director | Jun 2021 (5y) | GP / trustee / elected manager of Ariel Investments, Llc (indirect) | |
| Rodriguez Ayala, Emma, Leonor | Chief Administrative Officer, General Counsel & Secretary | Jan 2023 (4y) | Less than 5% | |
| Thomas, Pascale, Marie | Chief Compliance Officer And Deputy General Counsel | May 2023 (3y) | Less than 5% | |
| Bell, James, Aaron | Manager | Nov 2023 (3y) | Less than 5% | |
| Brown Philpot, Stacy, Sha Ron | Manager | Nov 2023 (3y) | Less than 5% | |
| Fuller, Vicki, Lynn | Manager | Nov 2023 (3y) | Less than 5% | |
| Hawkins, Mark, Joseph | Manager | Nov 2023 (3y) | Less than 5% | |
| Stewart, Shelley | Manager | Nov 2023 (3y) | Less than 5% | |
| Bonnet, Yue | Senior Managing Director, Head Of Investments | Feb 2024 (3y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Ariel Investments, Llc | Owner | Apr 2021 | A | 75% or more |
| Ariel Capital Management Holdings, Inc. | Owner | Feb 2004 | B | ≈ 18.75% – 50% via Ariel Investments, Llc |
Estimated effective ownership (look-through of filed bands):
- Hobson Lucas, Mellody, Louise: 25% – 50% of Ariel Investments, Llc × 75% – 100% direct ≈ 18.75% – 50% of the firm
- Rogers, John, Washington: 50% – 75% of Ariel Capital Management Holdings, Inc. × 25% – 50% of Ariel Investments, Llc × 75% – 100% direct ≈ 9.38% – 37.5% of the firm
- Ariel Capital Management Holdings, Inc.: 25% – 50% of Ariel Investments, Llc × 75% – 100% direct ≈ 18.75% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (3, $1.6B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Project Black, Lp | Private Equity Fund | $1.4B | $100M | 13 |
| Project Black Coordinated Participation Fund, Lp | Private Equity Fund | $112M | $100M | 2 |
| Project Black Sparta Ii Inclusion Co Investment Llc | Private Equity Fund | $97.5M | $100M | 2 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 07/16/2026 | 2.46 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports having custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jul 16, 2026.
View current Form ADV (SEC/IAPD) ↗