Firm profile

Ariel Alternatives, LLC

CHICAGO, ILCRD 314178Registration Status: ApprovedEffective since June 23, 2021SEC # 801-121577Latest ADV October 1, 2026

Ariel Alternatives, LLC is an SEC registered investment adviser organized as a limited liability company with a primary office location in Chicago, IL. Its latest Form ADV filing, dated July 16, 2026, reports $1.5B in regulatory assets under management, 57 employees, 3 offices, and 6 accounts.

Assets Under Management
$1.5B
Employees
57
Offices
3 offices
Total Clients
6

Associated firm names

1 name listed
  • ARIEL ALTERNATIVES, LLC

Leadership

4 roles identified
CEOJohn W. Rogers
CEOMellody H. Lucas
CCOPascale M. Thomas

Advisory services offered

1 types reported
Portfolio management for pooled investment vehicles

Fee models offered

2 types reported
Asset based fees
Performance-based fees

Offices & Contact

Primary office

CHICAGO, Illinois, United States

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Primary office regionOther reported regions

Shading shows states and countries with reported offices. Cities are listed below; shading does not indicate service coverage.

Illinois

CHICAGOPrimary office

California

SAN FRANCISCO

New York

NEW YORK

3 office records listed · 3 total offices reported. Counts can use different reporting dates. SEC filers may list only their largest 25 additional offices.

Contact and digital presence

ADV profile links

Regulatory Assets Under Management Breakdown

Total regulatory assets under management$1.5Bas of October 1, 2026
Discretionary100.0%
$1.5B
100% of total RAUM100.0%
Non-discretionary0.0%
$0
0% of total RAUM0.0%
All regulatory assets under management are discretionary.

Client Coverage Demographics

Top client segmentPooled Investment Vehicles represent 100.0% of total clients.
Top client categories% of clientsClients
1
Pooled Investment Vehicles
100.0%
6

Assets under management Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total AUM$1.5B
Total Accounts6
10Y AUM Change+$1.5B

Private Funds

Private funds reported by Ariel Alternatives, LLC

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Employee Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total Employees57
Clients per Employee0:1
10Y Employee Change+13 (+29.5%)

Historical AUM and employee figures reflect available SEC Form ADV filings under this CRD. Filing gaps may reflect registration status changes, dormant periods, state registration periods, firm restructuring, or other reporting changes. Rialytix does not interpolate missing periods.

Current profile metrics reflect a newer SEC ADV filing than the latest point shown in the historical chart. The chart will update once that filing is added to the ADV history dataset.


Ownership

Reported direct and indirect ownership ranges

Each range applies to a separate reported relationship and should not be added together.

Reported ownership ranges

Highlighted bands show the percentage range reported in Form ADV.

0%25%50%75%100%
ARIEL INVESTMENTS HOLDING COMPANY, LLCDirect owner · Schedule AInterest in ARIEL ALTERNATIVES, LLC
75%+
LESLIE ADOLPHE BRUNDirect owner · Schedule AInterest in ARIEL ALTERNATIVES, LLC
5% to < 10%
JOHN WASHINGTON ROGERSIndirect owner · Schedule BInterest in ARIEL CAPITAL MANAGEMENT HOLDINGS, INC.
50% to < 75%
Mellody Hobson LucasIndirect owner · Schedule BInterest in ARIEL INVESTMENTS HOLDING COMPANY, LLC
25% to < 50%
ARIEL CAPITAL MANAGEMENT HOLDINGS, INC.Indirect owner · Schedule BInterest in ARIEL INVESTMENTS HOLDING COMPANY, LLC
25% to < 50%

Bars represent the reported range at that individual ownership step, not an estimated percentage of the advisory firm. Indirect relationships may refer to intermediate entities rather than directly to Ariel Alternatives, LLC.

Reported ownership and control details

Form ADV · Filing date 2026-10-01 · Schedules A and B

25 entries
#Owner / person & roleInterest in entityReported interestControl personTitle / status acquiredSource
1LESLIE ADOLPHE BRUNCO-FOUNDER, OWNERIndividualARIEL ALTERNATIVES, LLC5% to less than 10%Code ANoCO-FOUNDER, OWNER04/2021Schedule APDF page 55
2PAGET LEONARD ALVESMANAGERIndividualARIEL ALTERNATIVES, LLCLess than 5%Code NAYesMANAGER04/2021Schedule APDF page 55
3WILLIAM MILTON LEWISMANAGERIndividualARIEL ALTERNATIVES, LLCLess than 5%Code NAYesMANAGER04/2021Schedule APDF page 55
4CARLOS ESTUARDO CALDERONSENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICERIndividualARIEL ALTERNATIVES, LLCLess than 5%Code NANoSENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICER06/2021Schedule APDF page 55
5EMMA LEONOR RODRIGUEZ-AYALAPRESIDENT, BOARD SECRETARYIndividualARIEL ALTERNATIVES, LLCLess than 5%Code NAYesPRESIDENT, BOARD SECRETARY01/2023Schedule APDF page 55
6Pascale Marie ThomasSENIOR VICE PRESIDENT, GENERAL COUNSEL, CHIEF COMPLIANCE OFFICERIndividualARIEL ALTERNATIVES, LLCLess than 5%Code NAYesSENIOR VICE PRESIDENT, GENERAL COUNSEL, CHIEF COMPLIANCE OFFICER05/2023Schedule APDF page 55
7JOHN WASHINGTON ROGERSMANAGERIndividualARIEL ALTERNATIVES, LLCLess than 5%Code NAYesMANAGER11/2023Schedule APDF page 55
8VICKI LYNN FULLERMANAGERIndividualARIEL ALTERNATIVES, LLCLess than 5%Code NAYesMANAGER11/2023Schedule APDF page 55
9Mark Joseph HawkinsMANAGERIndividualARIEL ALTERNATIVES, LLCLess than 5%Code NAYesMANAGER11/2023Schedule APDF page 55
10James Aaron BellCHAIRMAN OF THE BOARD, MANAGERIndividualARIEL ALTERNATIVES, LLCLess than 5%Code NAYesCHAIRMAN OF THE BOARD, MANAGER04/2021Schedule APDF page 55
11Stacy ShaRon Brown-PhilpotMANAGERIndividualARIEL ALTERNATIVES, LLCLess than 5%Code NAYesMANAGER11/2023Schedule APDF page 55
12ARIEL INVESTMENTS HOLDING COMPANY, LLCOWNERDomestic entityARIEL ALTERNATIVES, LLC75% or moreCode EYesOWNER10/2025Schedule APDF page 55
13Mellody Hobson LucasCO-FOUNDER, CO-CEO, MANAGERIndividualARIEL ALTERNATIVES, LLCLess than 5%Code NAYesCO-FOUNDER, CO-CEO, MANAGER11/2023Schedule APDF page 55
14Rodney CohenCO-CEO AND CHIEF INVESTMENT OFFICERIndividualARIEL ALTERNATIVES, LLCLess than 5%Code NAYesCO-CEO AND CHIEF INVESTMENT OFFICER09/2026Schedule APDF page 55
15Mellody Hobson LucasCO-CEO, PRESIDENT AND DIRECTOR (AND CO-FOUNDER, CO-CEO AND MANAGER, ARIEL ALTERNATIVES, LLC)IndividualARIEL INVESTMENTS HOLDING COMPANY, LLC25% to less than 50%Code CYesCO-CEO, PRESIDENT AND DIRECTOR (AND CO-FOUNDER, CO-CEO AND MANAGER, ARIEL ALTERNATIVES, LLC)05/2000Schedule BPDF page 56
16ARIEL CAPITAL MANAGEMENT HOLDINGS, INC.OWNERDomestic entityARIEL INVESTMENTS HOLDING COMPANY, LLC25% to less than 50%Code CYesOWNER02/2004Schedule BPDF page 56
17JOHN WASHINGTON ROGERSSHAREHOLDERIndividualARIEL CAPITAL MANAGEMENT HOLDINGS, INC.50% to less than 75%Code DYesSHAREHOLDER02/2004Schedule BPDF page 56
18JOHN WASHINGTON ROGERSCHAIRMAN, CO-CEO AND DIRECTORIndividualARIEL INVESTMENTS HOLDING COMPANY, LLCPercentage not specifiedCode FYesCHAIRMAN, CO-CEO AND DIRECTOR02/2004Schedule BPDF page 56
19KLAAS JAN MARTIJN CREMERSDIRECTORIndividualARIEL INVESTMENTS HOLDING COMPANY, LLCPercentage not specifiedCode FYesDIRECTOR07/2019Schedule BPDF page 56
20ARNE STARKEY DUNCANDIRECTORIndividualARIEL INVESTMENTS HOLDING COMPANY, LLCPercentage not specifiedCode FYesDIRECTOR07/2019Schedule BPDF page 56
21VALERIE BOWMAN JARRETTDIRECTORIndividualARIEL INVESTMENTS HOLDING COMPANY, LLCPercentage not specifiedCode FYesDIRECTOR07/2019Schedule BPDF page 56
22PAULA WOLFFDIRECTORIndividualARIEL INVESTMENTS HOLDING COMPANY, LLCPercentage not specifiedCode FYesDIRECTOR07/2019Schedule BPDF page 56
23ANTHONY DAVID ROMERODIRECTORIndividualARIEL INVESTMENTS HOLDING COMPANY, LLCPercentage not specifiedCode FYesDIRECTOR03/2021Schedule BPDF page 56
24JUDY ARLINE SMITHDIRECTORIndividualARIEL INVESTMENTS HOLDING COMPANY, LLCPercentage not specifiedCode FYesDIRECTOR06/2021Schedule BPDF page 56
25DAVID JOHN VITALEDIRECTORIndividualARIEL INVESTMENTS HOLDING COMPANY, LLCPercentage not specifiedCode FYesDIRECTOR01/2025Schedule BPDF page 56

Less than 5% may include zero. Code F identifies a role without specifying a percentage. Reported interests may overlap and may not include every owner. Total indirect ownership is not calculated.

Compliance & Disclosures

Filing dated 7/16/2026 11:43:32 AM

Responses were selected by the RIA in its filing. Questions are shortened for readability; “you” refers to the reporting firm, and some questions also cover advisory affiliates.

RIA or supervised-person involvementThe RIA reported that none of the events below involve the firm or its supervised persons.RIA responseNo
AFelonies2 No

In the past ten years, have you or any advisory affiliate:

  • A1Been convicted of or pleaded guilty or no contest to a felony?No
  • A2Been charged with a felony?No
BMisdemeanors2 No

In the past ten years, have you or any advisory affiliate:

  • B1Been convicted of or pleaded guilty or no contest to a misdemeanor involving investments, an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion?No
  • B2Been charged with a misdemeanor of the kind listed above?No
CSEC or CFTC actions5 No

Has the SEC or CFTC ever:

  • C1Found you or an advisory affiliate made a false statement or omission?No
  • C2Found you or an advisory affiliate violated SEC or CFTC regulations or statutes?No
  • C3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • C4Entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • C5Imposed a civil money penalty on you or an advisory affiliate, or ordered you or an advisory affiliate to cease and desist from any activity?No
DOther regulatory actions5 No

Has any other federal regulatory agency, state regulatory agency, or foreign financial regulatory authority ever:

  • D1Found you or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?No
  • D2Found you or an advisory affiliate violated investment-related regulations or statutes?No
  • D3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • D4In the past ten years, entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • D5Denied, suspended, or revoked your or an advisory affiliate’s registration or license, or otherwise prevented association with an investment-related business or restricted activities?No
ESelf-regulatory organization actions4 No

Has a self-regulatory organization or commodities exchange ever:

  • E1Found you or an advisory affiliate made a false statement or omission?No
  • E2Found you or an advisory affiliate violated its rules, other than a violation designated as a minor rule violation under an SEC-approved plan?No
  • E3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • E4Disciplined you or an advisory affiliate by expulsion, suspension, barring association with other members, or otherwise restricting activities?No
FProfessional authorizations1 No
  • FHas an authorization to act as an attorney, accountant, or federal contractor granted to you or an advisory affiliate ever been revoked or suspended?No
GPending regulatory proceedings1 No
  • GAre you or any advisory affiliate now the subject of a regulatory proceeding that could result in a “Yes” answer to any part of C, D, or E?No
HCivil judicial actions and proceedings4 No

(1) Court actions

Has a domestic or foreign court:

  • H(1)(a)In the past ten years, enjoined you or an advisory affiliate in connection with investment-related activity?No
  • H(1)(b)Found that you or an advisory affiliate violated investment-related statutes or regulations?No
  • H(1)(c)Dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or an advisory affiliate by a state or foreign financial regulatory authority?No

(2) Pending civil proceedings

  • H(2)Are you or any advisory affiliate now the subject of a civil proceeding that could result in a “Yes” answer to any part of H(1)?No

* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix data. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.