Ben Camacho and Phil Canfield at Lyceum
“Optionality.” This term is one that Phil Canfield advises students to keep in mind when pursuing a career in business. Canfield recently spoke to the sophomore Business Honors students in their Lyceum class. Canfield, who spent 28 years at the Chicago-based private equity firm GTCR and is now managing his own firm called Ariet Capital, explains how important it is to have “multiple paths,” whether it be in an interview, an investment, or a career.
For Phil Canfield, business had always been a career path he was destined for, even before he attended the University of Texas and studied in the Business Honors Program. “I was just drawn to the idea of how you bring people together to try to accomplish something.”
After studying in the Business Honors Program at UT, Canfield pursued a career in private equity with the firm GTCR. Canfield also attained his MBA from the Booth School of Business at the University of Chicago. According to Canfield, his undergraduate degree from the Business Honors Program and his MBA from Booth put him in a secure position and afforded him the “optionality” that he so values.
Canfield also offered advice to the sophomore students about taking classes and getting involved around campus. “You’ve got to follow where your heart is.” For Canfield, he succeeded because he pursued what he enjoyed, and this advice is what he emphasized for the current students of the Business Honors Program.
Furthermore, Canfield reminded students not to worry about stockpiling bullet points for their resumes. “When I’m hiring somebody, I want somebody who’s passionate about what they’re doing. […] I think the passion is way more important than the collection.”
Finally, Canfield closed with some advice to students about investing. Canfield shared stories of investments that went well, and others that just never panned out. However, the key takeaway from his career was this: “I was never that worried about what we paid. […] I was always more focused on what we can do with [the investments].” This advice is great for students who are interested in finance and private equity. The optionality and opportunity of an investment will always be worth more than its market value.
Now that he lives in Austin, Canfield hopes to spend much more time in and around the Forty Acres. He is a great resource for all students, especially those in the Canfield Business Honors Program. “If y’all see me walking around, come say hi.”