Williams Capital To Manage $1 Billion For Goldman Sachs says a press release issued yesterday. The piece says, "Williams Capital Management, LLC, a wholly-owned subsidiary of The Williams Capital Group, L.P., announced today that The Goldman Sachs Group, Inc. selected Williams Capital to manage $1 billion of U.S treasury and government agency securities. The investment will provide Williams Capital with a significant increase in its assets under management. Because many prospective investors require that managers have a minimum amount of assets under management before they invest, this investment is expected to be very significant in helping Williams Capital grow its business." Chris Williams, CEO of The Williams Capital Group, says, "Goldman Sachs' investment will enable us to bring our conservative investment strategies to a wider group of prospective clients who had previously been unable to consider investing with us." `Goldman Sachs Treasurer Liz Beshel commented, "Our balance sheet is very liquid. Chris brought us a timely proposal that helps us manage our liquidity position while also providing the added benefit of helping Williams Capital grow its asset management business. We look forward to continuing our long-standing relationship with Chris and his team." Finally, the release says, "Williams Capital Management, LLC manages a range of fixed income investment products including high yield bonds, short and limited duration investment grade securities, and money market investments. `As the adviser to the 2a-7 Aaa/AAAm-rated U.S. Government Money Market Fund (the Fund), and its predecessor Liquid Assets Fund, Williams Capital Management has served institutional investors since 2003." In other news, see Investment News' "New regs for money funds may hamper yields, report says", which discusses a paper by Capital Advisors.
