Amit Bhatia

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Amit Bhatia
Born4 September 1979
Alma materCornell University
OccupationOwner, Swordfish Investments; ex-Chairman, Hope Construction Materials; Chairman, Queens Park Rangers
Spouse(s)Vanisha Mittal
AwardsAsian Business Young Entrepreneur of the Year

Amit Bhatia (born 4 September 1979) is a British-Indian businessman. He is currently the owner of Swordfish Investments and chairman of football club Queens Park Rangers.

Early and personal life[edit]

Amit Bhatia was born in London, United Kingdom to Arun Bhatia and wife Renu. He was educated in Delhi at Columba's School until 1995, followed by Dulwich College in London, United Kingdom, in 1996, and at the British School in Delhi in 1997. Bhatia is an alumnus of Cornell University where he studied Economics & Management. He has since remained involved in alumni matters, now serving on Cornell's External Advisory Council for Internalization. He has lectured at the University's Johnson School for MBA students.

In 2004 Bhatia married Vanisha Mittal, the only daughter and second child of billionaire steel tycoon and Chairman and CEO of ArcelorMittal, Lakshmi Mittal, in a ceremony said to have cost as much as £60 million.[1]

Career[edit]

Bhatia began his career working in mergers and acquisitions at Morgan Stanley and Merrill Lynch in New York before moving to Credit Suisse First Boston in London. He then incubated Swordfish Investments, a Mayfair-based private equity/venture fund, and Swordfish Capital Management, an investment management company. Investments included education, media, telecoms, financial services, technology, consumer goods and real estate. One of Swordfish's investments, Supercell, was named in October 2013 the fastest growing gaming company in the world, with $2.5 million sales per day. The Finnish startup raised $130m at an impressive $770m valuation in spring 2013[2] before selling a 50% stake to Softbank at a $3 billion value.[3] Bhatia was also an early investor in Dropbox.[2]

His family are a co-owner of Air Asia India with Tony Fernandes and Ratan Tata.[4]

Bhatia was the Chairman of Hope Construction Materials,[5] the UK's largest independent supplier of concrete, cement, aggregates and asphalt. The company was launched in January 2013 after the divestment of 200 sites by two of the UK's biggest building materials companies, Tarmac Group and Lafarge. Hope's assets include the largest cement works in the UK at Hope Valley in Derbyshire, 172 ready-mix plants, 4 rail heads, 5 major quarries, 7 national offices, a fleet of over 400 vehicles and over 900 employees. The company is the UK's first construction firm to join the World Economic Forum's Global Growth Companies (GGC) community and one of just two European construction firms to meet membership criteria.[verification needed][6]

In August 2016, Bhatia sold Hope to the Breedon Aggregates, making the newly formed Breedon Group[7], the UK's largest independent construction materials group. Bhatia joined the board as a non-executive director following its acquisition and is a substantial shareholder of the company. In April 2018, Bhatia was promoted to become its Deputy Chairman with immediate effect.

Sports[edit]

In 2007 Bhatia bought a stake in Queens Park Rangers FC. He has served as their Vice-Chairman since then with the exception of a brief time in 2011,[8] when he resigned from QPR's board in frustration after his bid to buy the whole club was unsuccessful.[9] He returned to the board a few months later.

On 15 August 2018, Bhatia was appointed chairman of the club after co-chairmen Tony Fernandes and Ruben Gnanalingam vacated their positions.[10]

External links[edit]

References[edit]

  1. ^ O'Connor, Clare. "Most Outrageous Billionaire Weddings". Forbes.
  2. ^ a b "The Elite Interview".
  3. ^ Lunden, Ingrid. "SoftBank Ups Its Stake In Supercell To 73% As Sole External Shareholder". TechCrunch. Retrieved 2016-04-04.
  4. ^ "Air Asia". The Times Of India. 20 February 2013.
  5. ^ "Hope Construction Materials".
  6. ^ "List of Global Growth Company Members". Global Growth Companies. World Economic Forum. 28 April 2014. Retrieved 15 June 2014.
  7. ^ "Breedon Groups".
  8. ^ Gibbs, Thom (23 August 2012). "Tony Fernandes is chasing the impossible dream". The Telegraph. London. Archived from the original on 22 February 2014.
  9. ^ Roan, Dan (25 May 2011). "QPR vice-chairman Amit Bhatia quits over board fall-out". BBC Sport.
  10. ^ Scriven, David (15 August 2018). "Amit Bhatia appointed new chairman of QPR". Queens Park Rangers F.C. Retrieved 2018-08-15.