Why I Give: Kelly Williams
Kelly Williams
“As a philanthropist, you use the resources you have to ignite someone else. What a blessing to be able to give something like that. In fact, it’s the greatest gift you can give to yourself.”
NYSID trustee Kelly Williams has enjoyed a 30-year career as an entrepreneur in private-market investing. She founded the Customized Fund Investment Group (CFIG) in 1999 at The Prudential Insurance Company of America. CFIG moved to DLJ, and then Credit Suisse, where she spent 14 years growing CFIG into a market leader—with over $30 billion in assets managed—before Williams led its sale in 2014. She established CFIG’s emerging manager practice, with a focus on investing in diverse managers, as well as establishing its Small and Emerging Managers conference. In 2007, Williams and 12 other female leaders founded the Private Equity Women Investor Network, a global network which includes 700 of the most senior female investors in the private equity industry.
Williams is an avid collector of art and an interior design enthusiast. She serves on the boards of numerous art, design, and education nonprofits. She’s vice chair of the Board of Commissioners of the Smithsonian American Art Museum and a trustee of the Olana Partnership, the Norton Museum of Art, the Robert Toigo Foundation, Union College, and the Nantucket Historical Association. She’s been on NYSID’s Board of Trustees since 2018 and has served on the executive and financial oversight committees. She recently endowed the Nate Berkus Scholarship for students engaged in socially conscious and charitable design through The Williams Legacy Foundation, which she established. When we caught up with Ms. Williams, she was deep into the redesign of her Palm Beach home and enjoying the process.
You were named one of the most powerful women in finance by American Banker magazine for four consecutive years, and have devoted much of your career to fostering diversity in your industry. Why is diversity your focus?
Very early on in my life I was fortunate enough to spend time abroad in Japan, where I was not in the majority. The people were ceaselessly kind, but when you’re different, singled out, and feel like “the other,” it changes your perspective. I am so glad I had this experience early in life because I came back as a person with a different lens. In order to be successful as a society, you have to enfranchise everybody. That’s how you increase the well-being of a society as a whole. This is not just the socially responsible or ethical choice, it’s the right business decision. My best investments have been with diverse individuals and companies.
What role do art and design play in your life?
I’m very fortunate to serve on the boards of a number of arts-related organizations. I’m a passionate art collector, and my collection focuses on emerging African American artists. I’ve studied design informally and have chaired the Nantucket Historical Association’s Nantucket by Design (Ellen Fisher, vice president for academic affairs and dean, has been our keynote speaker). I’m lucky to be able to count amongst my friends and colleagues many extraordinary and talented designers. When you work on Wall Street, it’s fun to be able to use a different part of your brain and do work on behalf of the arts.
Why did you decide to become a trustee of the New York School of Interior Design?
Well, I became involved through my work with Nantucket by Design. NYSID has been our partner. Every year, they have been sending students to reimagine “The Oldest House,” challenging them to design without altering anything about the historic property. I became interested in the College because its leaders share my belief that design is an essential element of mental health. It’s not just how an interior functions that matters, but also how it makes us feel. We spend most of our time in interiors. In the time of COVID-19, it’s abundantly clear that design is not something frivolous, but something essential to our lives and well-being. NYSID is doing a service to society by training designers in a holistic way.
Why did you choose to endow the Nate Berkus Scholarship?
As I said, I feel passionate about the idea that interior design can impact mental health. Encouraging students to include within their education courses that emphasize socially responsible design can have a meaningful impact on society. Design should be for everyone. Good design of a domestic violence shelter, hospital, or foster home cannot eliminate trauma, but can blunt its effects. I thought it was important to encourage students on this course of study. I decided to name the scholarship for Nate Berkus because he is well known for his charitable work, and I thought he was someone high profile enough to resonate with students.
You were the chair of this past summer’s Nantucket by Design and made it financially possible for seven NYSID students to participate in the “Oldest House” competition virtually. How did it go?
I thought it went phenomenally well. The ability to have seven students participate and have them share their work virtually, with people throughout the country, allowed them to be more innovative because they did not have to rely on what was in the house, and exposed them to a larger audience than has been possible in years past. This was a silver lining of COVID-19.
What does it mean to you to be a philanthropist?
I am a very blessed person. I come from a modest background. My father was a police officer and brilliant, but he never had the chance to go to college. I was a first-generation college student. In one generation, I have been able to have enormous success. It shows what the trajectory can be for people when they have an opportunity. As a philanthropist, you use the resources you have to ignite someone else. What a blessing to be able to give something like that. It’s the greatest gift you can give to yourself.