over time, HypoVereinsbank officials decided they wanted to expand the relationship.
Ultimately, says Williams, “we determined that a 15% stake was an amount large enough to be meaningful from their standpoint but small enough to not limit this office’s strategic options.”
The Williams Capital-HypoVereinsbank transaction also continues the trend of minority-owned firms partnering, for strategic purposes, with larger financial services entities. For example, Bear Stearns & Co. once had a 17% equity stake in Blaylock & Partners, and Merrill Lynch & Co. was an original investor in Utendahl Capital Partners. Moreover, not long ago, Jefferies & Co., which provided some start-up capital to Williams, had a 19% interest in Williams Capital. In 1998, Williams bought back the Jefferies stake.