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Billionaire Steve Ballmer Invests $400 Million in Black Fund Managers

Steve Ballmer
Steve BallmerPhotographer: Patrick T. Fallon/Bloomberg

Steve Ballmer, the world’s ninth-richest person, is investing $400 million in funds tied to Black venture-capital and private equity managers.

The former Microsoft Corp. chief executive officer, along with his wife Connie, are putting money toward a fund-of-funds strategy with Goldman Sachs Group Inc. and Fairview Capital, according to a statement on the Ballmer Group’s website. They’ll also work with Ariel Investments, GCM Grosvenor Inc. and JPMorgan Chase & Co.