menu toggle

February 1, 2023

Ariel Alternatives Closes Inaugural $1.45 Billion “Project Black” Fund with Partners and Co-Investors

Capital to create minority-owned businesses of scale, seeking to provide Fortune 500 companies with diverse vendors


Additional co-investor commits up to $200 million for future transactions


One of the largest private equity fund closings for a first-time manager globally

Upfront Note:

AmerisourceBergen, a global healthcare company, has proudly committed $100 million in Project Black, one of the largest first-time private equity funds launched by Ariel Alternatives. Project Black will create minority businesses of scale, providing Fortune 500 companies with diverse vendors while empowering diverse leadership and workforces and creating jobs.


“At AmerisourceBergen, we have a responsibility to lean into our position at the center of the global healthcare industry to positively impact the communities we serve. That responsibility includes how we advance health equity, address social determinants of health and reduce systemic disparities with the goal of moving health forward. At the heart of who we are is our passion for partnership. Investing in Ariel Investments Project Black is a powerful, collective way to advance racial and social equity by creating economic opportunities that will empower communities across the United States,” said Steven H. Collis, Chairman, President & Chief Executive Officer of AmerisourceBergen.