UT Austin School of Business Receives $20 Million

UT Austin School of Business Receives $20 Million

The University of Texas at Austin has announced a $20 million gift from alumnus Phil Canfield and his wife, Mary Beth, in support of the Business Honors Program at the McCombs School of Business

The gift will be used to provide full-tuition scholarships, improve recruitment of the brightest and best students, broaden the program's offerings and resources for students, and enhance the reputation of the program, which will be renamed the Canfield Business Honors Program. 

"I wouldn't be where I am today if I hadn't been in that program," said Phil Canfield, a 1989 Business Honors graduate who is now managing director at the private equity firm GTCR. "It launched what's been a really fun and successful investment career, and in many ways I feel like it's a dividend back to the school for the investment that the school made in me back then. We both believe if you're helping education and you're helping people get access to education, that is the single highest leverage and best ROI investment you can make philanthropically."

"[The Canfields'] generosity will allow us to improve what is already an amazing program, and to ensure that we will always provide our students with the education, exposure, and community they need to become excellent leaders in business and society," said Jay Hartzell, the school's dean. "I also firmly believe that this investment will make a material difference — not only in the honors program, but also in the broader community, increasing our national reputation and the impact of our school and university."

"Newly Named Canfield Business Honors Program Recognizes Generous Alumnus." University of Texas at Austin Press Release 11/30/2018.