Thomas H. Lee Partners LP hired Jay Bhatt as a managing director for the private equity firm’s media, information services and technology group. In his new position, Bhatt will focus on investment opportunities in software and other information technology.
Previously, Bhatt, 47, was the president and CEO of global tech company Blackboard Inc, a portfolio company of Providence Equity. There Bhatt was responsible for upgrading Blackboard’s tech platform and expanding its international business by 50 percent.
Prior to his role at Blackboard, Bhatt also worked at Progress Software Corp where he served as president and CEO. Other professional highlights include serving as senior vice president and general manager of Autodesk Inc and working as an investment banker and tech investor at Bank of America Merrill Lynch (formerly Montgomery Securities) and UBS Investment Bank.
According to the 32-year-old firm, THL has raised more than $20 billion in equity funding since its inception and has invested in more than 130 companies with an aggregate purchase price of over $150 billion.
Photo: Former Blackboard CEO Jay Bhatt. Credit: Mona Shield Payne