Jay Bhatt has joined private equity firm Thomas H Lee Partners (THL) as a managing director in THL’s media, information services and technology group.
Bhatt has over 20 years of operating experience in senior leadership positions across the technology sector.
Most recently he was president and CEO of Blackboard, where he was responsible for driving significant sales and EBITDA growth through a strong focus on strategic and operational investments and efficiencies. He spearheaded an upgrade of Blackboard’s technology platform, expanded Blackboard’s international business by 50 per cent, and drove an acquisition approach of domestic and internationally based businesses.
“We are pleased to welcome Jay to our investing team,” says THL co-president Scott Sperling. “Jay’s extensive operating and leadership experience in the IT sector – specifically in software infrastructure, horizontal and vertical enterprise applications and SaaS technologies – will further build on our ability to identify and secure value-creating technology investment opportunities for our Media, Information Services & Technology portfolio.”
“It is an honour to be part of such a well-respected private equity firm and I look forward to working with the entire THL team,” says Bhatt. “THL has a compelling track record of investing in technology and technology-enabled companies across its portfolio, including current portfolio companies Black Knight Financial Services and Ceridian, and I am impressed by the depth and breadth of their capabilities in this arena. I am energised and gratified to work with the Media, Information Services & Technology Group to identify differentiated technology investing opportunities, make our partnership case to those management teams, and successfully execute those investments to drive lasting growth and value.”
Prior to Blackboard, Bhatt was president and CEO of Progress Software Corporation from 2011 to 2012, a global software company providing application development and support tools, where he drove significant shareholder returns.
Previously, from 2000 to 2011, Bhatt served as senior vice president and general manager of Autodesk, where he was responsible for Autodesk's largest business unit serving the global architectural, engineering and construction (AEC) industry.
Bhatt began his career as an investment banker and technology investor holding positions at Bank of America Merrill Lynch (formerly Montgomery Securities) and UBS Investment Bank, prior to which he served as a transactional attorney.
