Moving from Pakistan to Texas would be a culture shock for anyone. But that was the first step in Faraz Abbasi’s unusual journey to becoming the youngest partner at Centerfield Capital Partners, a private equity firm based in Indianapolis.
Abbasi was interviewed recently by the Indiana Star. He moved to Texas from his native Pakistan to get a degree in chemical engineering at the University of Texas. Afterward, he worked in sales for Rohm and Haas in Austin, a Dow Chemical subsidiary. Then on a friend’s suggestion, took a job at Praxair Inc., in Indianapolis. Praxair is a large engineering company that supplies atmospheric, process and specialty gases, and high-performance coatings.
While in Indianapolis, Abbasi continued to work on his skill set. He earned an MBA in finance the Indiana University Kelley School of Business. That’s when he met Tom Hiatt and Scott Lutzke of Centerfield Capital Partners, who invited him to join their firm. “I felt that finance and strategy was a field I wanted to get into, even though I didn’t know much about it,” Abbasi says.
How did he end up as the firm’s youngest partner, just 10 years later, at age 37? Abbasi credits a drive to succeed and picking the right mentors. It’s not only important in business life, but in your personal life, too. “I call them my personal board of advisors. I try to meet with my mentors at least once a month. Get in front of them and tell them where you are in your career.”
Abbasi also credits his ability to work as a team player as a key to succeeding in a partnership environment. “Partnerships thrive on people working together. If all four of us are going in different directions, it’s not going to work out. At the end of the day, if we make a good investment, it’s going to be recognized by our investors and by all four of us. You learn to over-communicate in a partnership to make sure everyone is on the same page. It’s important we take each other’s advice and do the right thing for the partnership.”
Finally, he advises young people looking for a private equity job to find out what really drives them, and what they love. And to try to network as much as possible. Build your network and get to know people in the community and in private equity. “Don’t be afraid to do jobs you didn’t anticipate having to do. You won’t run the company from day one. Keep in mind that you will be involved with other aspects of the business,” he says.
What’s your opinion? What particular activities give young, ambitious individuals an edge in landing a private equity job? Add your comments below.
Comments on this entry are closed.