Texas First Investment Management Company

Christopher Sarofim, the son of founder Fayez Sarofim, assumed leadership following his father's death in 2022. Christopher had previously managed Sarofim Ventures, a separate partnership focused on public equities and venture investments. The succession maintains direct family oversight of the private investment portfolio.

Texas First Investment Management Company handled the private family capital, while Fayez Sarofim & Co. operated as a registered investment advisor serving external institutional and high-net-worth clients. Both entities shared a concentrated large-cap equity philosophy but maintained legally separate portfolios and client bases.

Historically, Fayez Sarofim avoided private equity fund commitments, preferring direct ownership of publicly traded companies. The portfolio centered on liquid, mega-cap US equities. Christopher Sarofim's Sarofim Ventures entity introduced some venture exposure, but the family office's core posture has remained overwhelmingly public-market-oriented.

Sarofim built positions in consumer staples, energy, and financial services. Philip Morris and Coca-Cola were signature multi-decade holdings. Energy exposure reflected his Houston base and included positions in Kinder Morgan. The strategy avoided technology names during the dot-com era, emphasizing predictable free-cash-flow generation above growth narratives.

Fayez Sarofim accumulated his fortune through investment management fees and the compounding of his personal equity portfolio over more than six decades. He began managing money for Houston's prominent Hogg family in the 1950s and later attracted capital from other Texas industrial fortunes, reinvesting his earnings into the same concentrated positions he bought for clients.