Chicago-based Ariel Investments L.L.C. was founded by John W. Rogers Jr. in 1983. Since its inception, the money management firm has grown its staff from 2 to 75, with more than $4.3 assets under management. The firmâ€™s assets under management are down 65% from the previous year.
Ariel Investments manages small cap and midcap portfolios on behalf of corporate, public, union, and non-profit organizations.
In light of the current economic climate, Ariel announced in April, that it would retool its microcap value strategy by buying stocks in companies with less than $500 million in market capitalization.
Ariel Investmentsâ€™ assets under management in larger stocks have declined from $21.4 billion in 2005 to $3.7 billion in 2009.