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Showing posts with the label Piedmont Investment Advisors LLC

"For Minority Firms, Crisis Opens Doors"

Wall Street Journal, May 22, 2009. NEW YORK -- The financial turmoil that has weakened or destroyed some of Wall Street's most prominent companies is presenting an opportunity for some lesser-known firms, especially those owned by women and minorities. One company that is benefiting is Williams Capital Group LP, an African-American-owned broker-dealer and asset manager in New York. Earlier this week, Goldman Sachs Group Inc. said it will invest $1 billion in a money-market fund managed by Williams Capital, more than doubling the amount of funds the firm has under management and pushing it over a critical size threshold that could help it attract additional institutional investors. Last month, Williams Capital was named as part of a team assembled by Invesco Ltd. that applied to participate in the Treasury Department's Public-Private Investment Program, or PPIP, an effort to relieve banks of toxic assets. Invesco, and its affiliate WL Ross & Co., which is controlled by mo