Draft:Bobby Sharma
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Bobby Sharma | |
|---|---|
| Born | 1973 Dayton, Ohio |
| Education | |
| Occupations | |
| Website | bluestoneequity.com |
Bobby Sharma (born in 1973) is an Indian-American investor. He is a former executive and attorney, including at the National Basketball Association where he helped build the NBA G-league, and is currently the founder and managing partner of private equity firm Bluestone Equity Partners.
Early life and education
[edit]Sharma graduated from Duke University with a bachelor's degree and earned a juris doctor (JD) degree from Duke Law School.[1]
Career
[edit]
National Basketball Association (NBA) (2002-11)
[edit]Sharma worked as an executive and attorney for the National Basketball Association (NBA) from 2002 to 2011.[2][3] While there, he helped lead the creation of the NBA’s first minor league, initially called the NBA Development League (or D-League), now known as the G-League. He worked with commissioners David Stern and Adam Silver throughout his tenure at the NBA and oversaw the G-League growing from 6 regional teams in the southeast, to 16 teams across the United States.[2][3]
IMG & Investment (2011-23)
[edit]In 2011, Sharma took on an executive role with IMG Worldwide, as senior vice president, global head of basketball & strategic initiatives.[4][5] He was tasked with building professional sports leagues in international markets, starting with a basketball league in India after IMG acquired commercial rights to the sport in the country for 30 years. Sharma considered India as the "largest untapped basketball market in the world.[6][7][8] At IMG Sharma worked alongside famed investor Ted Forstmann, building sports leagues in other international markets including Brazil, Nigeria and China, with sports such as basketball, soccer, and cricket.[2][9][10]
Bluestone Equity Partners (2023-present)
[edit]In 2023, Sharma founded Bluestone Equity Partners, a private equity firm that launched its inaugural $300 million fund in a single closing with institutional investors.[4][11][12][13] The New York City-based firm focuses on deals in the sports, media & entertainment industry.[14][9] Sharma built the firm based on experience and relationships in both the sports and finance industries, including hiring investors from firms such as Blackstone and Apollo Global.[2][9]
Sharma’s first Bluestone investment was in July 2023, a $30 million stake in Australia-based PMY Group, which designs and manages technology like digital scoreboards, lighting, and acoustics at major sports and entertainment venues around the world, in leagues such as Major League Baseball, the National Football League, and Major League Soccer, including Citi Field, SoFi Stadium and AT&T Stadium.[15] In 2024, Sharma led several other firm investments, including in Volo Sports, the largest organizer of social and recreational sports in the United States, such as basketball, soccer, softball, and pickleball, and in RWS Global,[16] an entertainment design and production company with clients ranging from Broadway shows, theme parks, and cruise lines, including Carnival and Disney.[17]
Philanthropy
[edit]Sharma serves on the board of directors of Goodwill Industries of NY & NJ.[18] He has also served on the boards of the United States Tennis Association,[19] USA Archery,[20] and as the chair of the nominating committee for USA Table Tennis.[1]
References
[edit]- ^ a b "Bobby Sharma". Bluestone. Retrieved 2025-06-16.
- ^ a b c d Armental, Maria (2023-02-08). "WSJ News Exclusive | Former NBA Executive Bobby Sharma Launches Private-Equity Firm". Wall Street Journal. ISSN 0099-9660. Retrieved 2025-06-12.
- ^ a b "Foley Sports Group Scores Former NBA Exec as Special Adviser". Yahoo! Finance. February 25, 2019. Retrieved June 11, 2025.
- ^ a b Dorbian, Iris (2025-03-26). "Harmony Helper marks fifth add-on for Bluestone-backed RWS Global". PE Hub. Retrieved 2025-06-13.
- ^ Levinson, Mason (January 13, 2014). "Rodman's North Korea Trips Signal Basketball Push by Leader Kim". Bloomberg. Retrieved June 12, 2025.
- ^ "Thirtysomething? Lee's Number Is Up". Wall Street Journal. 2010-12-14. ISSN 0099-9660. Retrieved 2025-06-16.
- ^ Long, Michael (2010-12-16). "Bobby Sharma joins IMG's basketball division". SportsPro. Retrieved 2025-06-16.
- ^ Thamel, Pete (May 8, 2013). "Wanted: 1.2 billion basketball fans". Sports Illustrated. Retrieved June 15, 2025.
- ^ a b c Moses, Lucia. "How a new $300 million private equity fund plans to invest and compete in sports media, 'the most valuable last commodity standing'". Business Insider. Retrieved 2025-06-12.
- ^ Coffey, Brendan (2023-02-08). "Bobby Sharma Rolls Out $300 Million Bluestone Sports Fund". Sportico.com. Retrieved 2025-06-23.
- ^ Beltran, Luisa. "Leonardo DiCaprio–backed AI startup Qloo clinches $20 million investment from Bluestone Equity Partners". Fortune. Retrieved 2025-06-13.
- ^ Huston, Caitlin (2023-02-08). "Former IMG Exec Launches Sports, Media, Entertainment Private Equity Firm". The Hollywood Reporter. Retrieved 2025-06-13.
- ^ Dorbian, Iris (2023-02-08). "Bluestone Equity Partners wraps up maiden growth equity fund at $300m". Buyouts. Retrieved 2025-06-13.
- ^ "The business of sport". The Economist. ISSN 0013-0613. Retrieved 2025-06-12.
- ^ Thomas, Lauren. "WSJ News Exclusive | Sports-Focused Private-Equity Firm to Invest in PMY Group". WSJ. Retrieved 2025-06-17.
- ^ Hytha, Michael (November 13, 2024). "Sports League Platform Volo to Grow Via M&A With Bluestone Stake". Bloomberg. Retrieved June 16, 2025.
- ^ Taylor, Isaac (2023-09-17). "WSJ News Exclusive | Bluestone Equity Invests Some $20 Million in First Entertainment Deal". Wall Street Journal. ISSN 0099-9660. Retrieved 2025-06-17.
- ^ "Goodwill NYNJ appoints six new members to its Board of Directors". www.prnewswire.com. October 10, 2023. Retrieved 2025-06-23.
- ^ "USTA announces 2023-24 Board of Directors; Dr. Brian Hainline to be next president". Archived from the original on 2024-04-12. Retrieved 2025-06-23.
- ^ "USA Archery Welcomes Foxworth, Sharma and Porter as Independent Directors". USA Archery. Retrieved 2025-06-23.