These Black Men are Building the Financial Future: Inside BEM’s New York Open Capital Social Event
By Leroy Adams
What happens when Black men in private equity decide to fund each other, support each other, and build—together?
In a financial world where only 1.3% of U.S. investment capital reaches minority- or women-owned firms, the Black Executive Men Private Equity Network is doing more than leveling the playing field—it’s building a new one entirely. With a bold mission to help 1,000 Black men each reach $1 billion in assets under management by 2050, BEM is shifting the future of Black wealth, leadership, and collective power.
This is a story about capital and community. About myth-busting and legacy-making. About what happens when Black men step into rooms built for—and by—themselves.
And on one cool evening in Manhattan, I stepped into one of those rooms.
INTRODUCTION
I was still shaking the hustle of the New York subway off my jacket as I walked up to the gallery. Inside, the bartender, chef, and videographer were already setting the scene. Black art colored the gallery’s walls, creating a world of Black life depicted in vibrant hues, across different places and life experiences. In just a few hours, the space would be filled with Black men—some fresh from corporate suites, others arriving straight from the airport—ready for the BEM Private Equity experience.
Pictured: Jewel Love welcomes Dr. Rubin Cockrell to BEM’s Private Equity New York Open Capital Social.
Photo by: @kvonfoto
On this cool, breezy New York City evening, the walls of the Chelsea Walls Gallery rendered the outside world irrelevant. For the next few hours, once you stepped inside, the only thing that mattered was the brothers and the opportunities surrounding you. The Black Executive Men Private Equity Network made its presence known here—and it did so with intention. The art, curated from a collection of Black artists and flown in from galleries across the country, represented the fullness of our world. A few members had even donated pieces from their personal collections to celebrate the evening.
As the men arrived, they were greeted by handshakes, nods, and hugs. A warm, luxurious scent rose up—nutty, earthy black truffle mingling with the buttery richness of melted cheese from the mac and cheese bites prepared by Chef Woody St. Juste. There was a savory depth in the air, almost woodsy, with hints of garlic and toasted breadcrumbs. This kind of culinary and cultural richness is a signature of BEM events—true to one of the brand’s pillars: luxury as affirmation.
Pictured: Jay Holmes welcomes members to BEM’s Private Equity New York Open Capital Social.
Photo by: @kvonfoto
As Jewel Love, founder of Black Executive Men, explains, the polished and exclusive aesthetic of BEM’s Private Equity Network events reflects more than just status—it’s a declaration. “It’s showing Black male unity in a professional setting of guys building together in high-end environments. It hits multiple psychological levers. Number one, high-end environment. If you’re dealing with private equity, that’s what you’re talking about—successful people who enjoy nice things. Luxury has to be a part of the experience.”
BEM’s Private Equity Network New York Open Capital Social
Photo by: @kvonfoto
Tucked between the pulse of Manhattan and the quiet hum of curated Black art, the Open Capital Social welcomed over 30 Black men from across the U.S. and beyond. Some arrived with briefcases straight from Wall Street, others with passports still warm from international deals. Like all BEM events, the connections and conversations flowed as freely as the bottles of wine corked throughout the night. Laughter echoed through the gallery as strangers became collaborators by the first handshake. I wandered listening to the men discuss everything from “good capital vs. bad capital” to AI in Morocco and the possibility of launching a BEM chapter in Rwanda.
The room was alive—with dialogue, with dollars, with the scent of freshly poured white wines, and with art that portrayed Black people as dignified, as cultural archetypes, and as Queens wrapped in the spirit of Mother Nature.
“This Is a Relationship World”: Cusaj Thomas
Pictured: Cusaj Thomas, BEM Private Equity Network member, addresses the audience.
Photo by: @kvonfoto
Standing in front of a commanding portrait of a young Black girl dressed in ceremonial lace, Cusaj Thomas—a Private Equity and M&A Attorney at Goodwin Procter, the firm that sponsored the event—explained why his firm attached its name and support to the Open Capital Social.
“This is a powerful organization doing powerful things in a powerful space,” he said. “In many rooms I walk into, I don’t see other Black men. Tonight, I’m surrounded by them—and they’re managing millions.”
With a knowing smile, he continued, “They’re building a strong community, and you have to support it. The start was in private equity, but it’s expanding. I’ve been in private equity my entire career and I’ve never seen anything like this. That’s what makes it unique. I remember the first dinner in New York when this was just an idea. Now they’re in venture capital and building in other countries. I knew this would be a great space to fellowship and build with brothers in the industry.”
Chelsea Art Gallery
She—the young girl in the painting—stood before a golden arch, her gaze direct and unwavering, radiating strength, sacredness, and sovereignty. Cusaj, echoing her posture and presence, stood straight, his tone focused and steady. The same power the girl wielded in her portrait, seemed mirrored in the conviction of his final words.
How does that fellowship translate to deal-making?
“This is a relationship world,” he said. “The exponential opportunity is in the relationships we gain. Having a collective where it’s not just individuals growing alone—but collectively, supporting each other—that's rare. And it goes farther. You can meet someone in this room, follow up in another city, and build something real.”
Pictured: BEM’s Private Equity New York Open Capital Social
Photo by: @kvonfoto
The clinking of wine glasses and the gleeful call of cheers in the background pulled us gently back into the room. That same sense of collective potential Cusaj described is what sparked the creation of the BEM Private Equity Network itself.
The Mission: 1,000 Black Men, $1 Trillion AUM
Pictured: Jewel Love
Photo by: @kvonfoto
In front of a portrait of a dignified Black man in a mustard jacket—his eyes contemplative under the weight of legacy—stood Jewel Love and Jay Holmes, co-founders of BEM Private Equity Network. Before them, a sea of attentive Black men stood shoulder to shoulder in a spectrum of darkly hued suits and blazers—deep navy, charcoal gray, rich mahogany—each one soaking up every word.
The room was still, not with silence, but with presence. Heads nodded in rhythm with the message: “relationships, deal-making, generational.” Some folded their arms in contemplation; others leaned forward slightly, absorbing the gravity of the moment. Jewel and Jay’s vision had captured the attention of brothers, peers, and future billion-dollar fund managers.
“A major part of our mission is bridging the gap between knowledge and capital, Jay explained. We're not just educating first-time and emerging fund managers, we're equipping them with high-level tools around fundraising, secondaries, and exit planning. At the same time, we’re forging strategic alliances with institutions that have a strong history of supporting diverse fund managers. The goal is to align both sides of the table—so more Black men get funded, and more allocators meet the benchmarks their investors are looking for.”
Pictured: Jay Holmes
Photo by: @kvonfoto
Jay, the co-founder of the Black Executive Men Private Equity Network—an outgrowth of the original Black Executive Men organization that now focuses squarely on private equity and high finance—began his journey as a real estate portfolio manager in Connecticut.
“I didn’t have institutional relationships. No family offices. No accredited investors,” he said. “Those doors weren’t open to me.”
Jewel came from a different lane. He originally founded Black Executive Men as a psychotherapy practice for Black men in corporate America. For years, as a licensed psychotherapist, he treated issues like depression, anxiety, and childhood trauma—while in return, learning firsthand what it takes to excel in high-stakes professional environments.
Jewel’s background is deeply influenced by Jungian depth psychology, humanistic philosophy, and cross-cultural men’s initiation rites—each shaping his approach to identity, purpose, and transformation in the lives of high-performing Black men. What stood out the most in his work was the profound sense of isolation many of his clients felt in corporate spaces. The solution, he realized, wasn’t just mental health support—but authentic community, where Black men could form meaningful and empowering connections.
Jay and Jewel’s professional relationship began with a LinkedIn message about angel investing—but it quickly revealed something much deeper.
“I needed to see someone who looked like me doing this,” Jewel explained. “Jay gave me the info—but more importantly, the cultural ‘we.’ That made it real.”
Chelsea Art Gallery
Photo by: @kvonfoto
From that cultural synergy, BEM Capital was born. Soon after, BEM Private Equity Network emerged—as a space for institutional investors, lawyers, accountants, allocators.
“It adds dramatic tension,” said the artist of the painting Jewel and Jay were standing in front of. “The play of shadow across his face emphasizes his contemplative expression—perhaps hinting at identity, complexity, or legacy.”
As the artist’s voice faded into the background, I could hear Jay and Jewel once again make their mission plain:
Help 1,000 Black men reach $1 billion in assets under management (AUM) each by 2050.
“We Can Make a Path for Ourselves”: Calvin’s Perspective
The smoky-char aroma—think fire-seared edges, a whisper of black pepper, and the deep, meaty scent of well-marbled beef—hovered around us. And there was only one man standing between me and the perfectly grilled sirloin chops: Calvin L. Butts Jr., founder of East Chop Capital and owner of the largest minority-owned luxury vacation home company in the world.
Pictured: Mishone Donelson (left) and Calvin Butts Jr. (right).
Photo by: @kvonfoto
To avoid the temptation of the meaty bites, Calvin and I stepped aside to talk. What followed was a reflection on why BEM feels like the right network, arriving at the right time—a place where Black men in corporate America can avoid isolation, build wealth together, and blueprint a future pipeline of next-generation investors.
“I used to obsess over my title—VP, SVP, CMO. I wanted that corner office, that boardroom seat. But once I got there, I realized I was one of very few. It felt like an impossible journey,” Calvin shared.
Wine glasses clinked in the gallery— toasts to new connections.
“That’s why BEM matters,” he continued. “This organization is showing brothers how to build, mentor, and create a path forward—not just for themselves, but for others. We’re sharing case studies. We’re proving what’s possible.”
He paused, smiled, and with his six-foot-five frame, sat up straight, placing his hands firmly on his knees—grounded, intentional—before saying:
“And when you see that Derek did it, Jerry did it, Ryan did it—you start to believe, ‘I can do it too.’”
BEM Private Equity Network New York Open Capital Social
Photo by: @kvonfoto
Like many of the brothers in BEM, Calvin had spent years grinding in isolation, without the networks or guidance that could’ve made the journey smoother. And while he now leads a successful firm and works across a portfolio of multi-million-dollar properties, he’s most motivated by the chance to build for others.
For Calvin, BEM offers more than access to capital—it offers access to clarity, community, and continuity. The brothers here understand that opportunities are abundant, but direction, mentorship, and capital remain limited—especially for those coming up next. In BEM, he saw a space actively rewriting that reality.
Chelsea Art Gallery
Photo by: @kvonfoto
The smoky aroma found its way through the corners of the gallery again—its savory signal calling us back before the trays were cleared. As we turned to rejoin the crowd, I asked Calvin one final question:
What does BEM’s goal of helping 1,000 Black men reach $1 billion AUM by 2050 mean to you?
“It means people are motivated to see it happen,” he said. “They’ll open their networks. They’ll put people in the right rooms. They’ll create synergies between people with capital and people with ideas worth investing in.”
His eyes carried a calm intensity—focused but warm, like someone who had seen the climb, made it to the summit, and now wanted others to follow.
A Culture of Community and Capital
The energy in the Chelsea Walls Gallery was unmistakable—elevated, elegant, and alive.
The photographer moved through the space like a documentarian of legacy, capturing frames of men locked in discussion over art, mapping out business plans, or simply enjoying a bite together. Chef Woody’s ethos—“the best connections are served over food and cocktails”—was on full display as men laughed over spiced candied bacon and traded business cards between bites of lobster rolls. Nearby, the videographer panned across the room with precision, preserving every nod, every handshake, every knowing glance.
At the bar, Woody’s sommelier-style bartender gave a wine-pouring performance with the flair of a magician and the knowledge of a vintner. As a small circle formed around him, captivated by his skill, he uncorked a specialty bottle—on the hour, as promised—each pop punctuating another moment of possibility.
This was Black brilliance in motion.
Jack Thomas and Dr. Keita Broadwater toasted a closed deal in the Bahamas. Dr. Broadwater shared news of recent meetings with investor clients in Morocco and a new AI venture through Diligence Africa. Nearby, Abraham Kromah, Managing Director at SEMCAP, celebrated a fresh win with Hollywood executives. William Yeboah, founder of Make It Zesty, was deep in conversation about how he’s positioning his catering firm to acquire airline contracts across Africa.
Pictured: Ikenna Nwadibia
Photo by: @kvonfoto
With over 1,700 businesses within the BEM Private Equity Network actively raising capital, this wasn’t just another networking night—it was a marketplace filled with new opportunities.
One of those opporuntites? Potentially one of the biggest. Came from Dr. Barry Braxton, affectionately known as “Billionaire Barry” within the BEM ecosystem, had a clear intention.
“When I heard they had 1,700 businesses looking to raise nearly $850 million, I said, ‘I want to write the check for that,’” he shared. “If they 4X or 8X that—it could be trillions. And I want to be part of that growth.”
Chelsea Art Gallery
Photo by: @kvonfoto
When I asked what BEM has given him, Barry didn’t hesitate.
“Access,” he said. “I’ve met Mr. Lawrence Bosley manages a $250 billion fund. He’s only looked for general partners to invest with. investing with general partners. These are connections that might’ve taken me years to make. BEM gave me access—real access—to the bigger players. The connectivity to other brothers in private equity and venture capital is tremendous. I’ve never seen anything like it. The access they offer is career-changing.”
But these connections don’t just benefit individuals. They ripple out—into firms, partnerships, and entire communities.
With calm conviction, Barry broke it down:
“I have $6.5 billion to deploy. Really, it’s $70 billion. But since we’re a Black-owned firm, $6.5 billion just sounds… more reasonable.”
Why?
“Because people still don’t believe Black-led firms can—or should—manage massive capital. Of the $83 trillion in U.S. investment capital, only 1.3% goes to minority- and women-owned businesses. We don’t have access to the money—nor are we managing it.”
So how can a Black firm grow and manage a $70 billion fund?
Pictured: BEM Private Equity Network
Photo by: @kvonfoto
BEM provides the answer.
With case study after case study, connection after connection, BEM shows what’s possible when talent and trust meet relationships and opportunity.
Pictured: Donnie Royal
Photo by: @kvonfoto
When I asked Barry what he thought about BEM’s mission—1,000 Black men, $1 billion AUM each by 2050—his answer came quick.
“Doable,” he said, with the confidence of someone who’s done the math. “There are over 200 Black companies doing a billion a year in Africa alone. Why not us? BEM is already building globally—in the Middle East, across Africa. We’re at the beginning of something huge.”
He leaned in slightly.
“Trust me.”
Beyond Capital: A Legacy Made Real
Pictured: BEM Private Equity Network
Photo by: @kvonfoto
The energy was beginning to settle, but the meaning of the night was just beginning to crystallize.
As final toasts were poured and men gathered for group photos, the atmosphere inside Chelsea Walls Gallery felt less like the closing of an event—and more like the beginning of a movement.
Jay Holmes, co-founder of BEM Private Equity Network, sent them home on the highest note, “We’re strategically building a diversified portfolio by supporting top-performing Black GPs across the network. The traction we’ve gained in just our first year speaks volumes—and this is just the beginning of what’s possible.”
Jewel Love, fellow architect of BEM Private Equity Network, raised his glass and named what everyone in the room could feel.
“This isn’t just a New York thing. Or a private equity thing. It’s global,” he said, scanning the room. “I want to see you in Dubai. In Kenya. In Accra.”
Their message landed.
Pictured: Dr. Keita Broadwater
Photo by: @kvonfoto
BEM is creating a new tradition. One rooted in legacy. One rooted, according to Siday Mulbah, in the kind of economic unity that Dr. Martin Luther King Jr., Malcolm X, and Nelson Mandela once called not only necessary—but urgent.
I sat with Siday Mulbah, Founder and CEO of ECS Virtual Support, to talk about the deeper meaning behind BEM’s mission, as he sees BEM as more than a capital network.
“This is the future Dr. King and Malcolm dreamed of,” he said. “We’re picking up the baton—and running with it.”
He recalled Mandela’s famous line: “There is no true freedom without economic freedom.” A line that now echoes in every room BEM creates.
Pictured: Gary Murphy
Photo by: @kvonfoto
It brought to mind Dr. King’s 1968 “I’ve Been to the Mountaintop” speech, where he emphasized the importance of investing in each other and building economic strength:
“We’ve got to strengthen Black institutions. I call upon you to take your money out of the banks downtown… we want a ‘bank-in’ movement in Memphis.”
At the time, King reminded us that Black Americans collectively generated $30 billion annually. Today, that figure has grown into the trillions—and yet, as Dr. Barry Braxton noted earlier in the evening, of the $83 trillion in U.S. investment capital, just 1.3% goes to minority- and women-owned businesses.
Can BEM be the answer?
Pictured: Dr. Rubin Cockrell
Photo by: @kvonfoto
The BEM movement is intentionally expanding across borders—building a global economic ecosystem where capital, leadership, and community move in sync. From New York to Nairobi, London to Lagos.
Pictured: Abraham Kromah
Photo by: @kvonfoto
Malcolm X’s words from his 1964 speech “The Black Revolution” come to mind:
“Our economic philosophy is that we should gain economic control over the economy of our own community.”
That philosophy lives in BEM’s model. It lives in the way the men in this room weren’t just networking, but forming syndicates. Mapping investment pathways. Designing capital pipelines that stretch from Harlem to Kigali.
For Siday, that vision is already tangible.
“In just eight weeks, I’ve connected with over 1,700 Black-led businesses ready for funding,” he said, pausing to let the weight of the number settle. “And that’s just the ones I’ve met. If I had more time? 45,000—easily.”
The scale of that potential is undeniable. And if the final frontier of freedom—as our elders once said—is economic, then BEM may very well be paving the road.
Not just a network.
Not just a tradition.
A new economic reality.
Beyond legacy and vision, what struck me most were the lived realities being rewritten in real-time.
Shattering Myths, Building Futures
Pictured: Lawrence Bosley and Mishone Donelson at the BEM Private Equity New York Open Capital Social.
Photo by: @kvonfoto
There are certain myths about Blackness that not only plague society—but have also harmed our communities. Like me, you’ve heard them before:
“We don’t work well together.”
“We can’t build.”
“We don’t support each other.”
“We don’t value education.”
“Struggle is our only story.”
Whenever I attend a BEM Private Equity Network event, I’m reminded that these are just that—myths.
I see highly educated, deeply creative Black men managing billion-dollar funds across multiple industries. Some in tailor-made suits with cufflinks that catch the light. Others in stylish blazers and crisp slacks. It doesn’t matter—style is part of the man.
Pictured: Siday Mulbah
Photo by: @kvonfoto
The events themselves? Elegant. Classy. Whether it’s a fine dining experience in a Miami pool house or a contemporary art gallery lit by Manhattan nightlife, the energy is unmistakable.
These men are making deals. Building companies. Funding ventures. And they’re doing it with community impact and generational wealth in mind.
After the first handshake, it’s hard not to want to be part of a community that shatters myths—and builds a future where we define success on our own terms.
