Voice of Experience: Kelly Williams, President of Private Markets, GCM Grosvenor
The pivotal moment of Kelly Williams’ career came when she was given the opportunity to step outside of her comfort zone and go in a completely new direction. “I started as a project finance lawyer in the private sector, where I was one of few women,” said Williams, who later took a position working in-house with Prudential Financial.
“Then I had the chance to move over to the business side because someone believed in me and recognized that I had the skills and ability to thrive in this new role in a different environment than what I was used to,” Williams continued.
Sometimes, according to Williams, you have to take risks and see in yourself what others see in you.
Career in Private Equity
Williams started the Customized Fund Investment Group (CFIG) in 1999 and continued to lead the group even after it was acquired by DLJ in 2000. Through CFIG, Williams designed investment portfolios for large institutional investors. Shortly after, DLJ merged with Credit Suisse and Williams moved once again along with the business unit.
“I am extremely proud of building a business with over $20 billion in assets and leading the divesture of the business from Credit Suisse to Grosvenor,” said Williams, who is leading the unit at its new home as part of GCM Grosvenor, one of the world’s largest alternative investment firms with over $45 billion assets under management.
According to Williams, alternative investments are driving major changes in the overall investment landscape as investors have expressed increased interest in backing firms led by women and minorities. She explained, “It is exciting to provide solutions for clients who are becoming more interested in investing in women and minorities.”
Williams added that one of her primary goals is to provide access to a diverse pool of managers in order to reflect investor interest. “Women and minorities represent over 50 percent of our team,” said Williams. “This is a big focus for us and I am proud that we have been able to grow the business in this direction.”
Advice for Women in the Industry
“The private equity business is a lot different than banking,” explained Williams, “because new firms are typically started by a small group of people with a pre-existing connection. So, it is often a closed network that women may not have access to.”
This is why, Williams added, it is beneficial for women in the industry to network with each other, support each other, and celebrate each other’s successes. “Not only is it important to have a strong industrywide network, but it is also beneficial to establish connections within your own firm,” she said.
Williams is the founding board chair of the Private Equity Women Investor Network which includes 250 members nationally. “This group represents the most senior women in private equity and we focus on networking and education,” she said. At GCM Grosvenor, Williams is involved with the Women’s Inspirational Networking Group which brings the firm’s women together to discuss various issues related to career advancement. “I have a strong commitment to diversity and especially toward women’s initiatives,” Williams said.
Williams continued, “Think of every interaction you have as a PR opportunity because you never know when you will make an impression on the right person who will then turn around and sing your praises.”
In addition to networking, Williams emphasizes the importance of recognizing that there is no set checklist in place when it comes to advancing your career. “Work really hard and make your boss look good,” she advised, “because they will bring you along and your career will benefit as well.”
“Young professionals also need to realize that it is okay to make mistakes in their career,” Williams noted. “This is something I wish I realized earlier in my career. Things are never as bad as you think they are, and taking responsibility for your actions will go a long way.”
Giving Back to Her Community
Outside of the office, Williams further displays her dedication to diversity through her philanthropic efforts with the Sponsors for Educational Opportunity program and the Robert Toigo Foundation. She serves on various boards for both of these organizations, which are committed to providing educational support and resources for women and minorities.
By Michelle Hendelman
