Williams Capital to manage $1 bln for Goldman

NEW YORK May 18 (Reuters) - Goldman Sachs Group Inc (GS.N) has hired Williams Capital Group to manage $1 billion of short-term U.S. debt assets, Williams said on Monday.

The deal more than doubles the money market assets at Williams Capital's investment management arm, which should help the unit win more customers, said Williams Capital Chief Executive Chris Williams.

"The credibility it gives us as a comparatively small firm is invaluable in terms of our overall marketing effort," Williams told Reuters.

Williams Capital Management manages fixed income assets including money market assets and junk bonds.

Williams Capital Group was established in 1994. (Reporting by Steve Eder; Editing by Steve Orlofsky)