Alex Bhathal started his family business when he was ten years old. Raj Swim is a local company founded by her parents that designs, manufactures and sells designer and private label swimwear for nationally recognized brands.
Employment did not last long.
“My father fired me the following year because he was more interested in spinning in an office chair than doing actual work,” Bhathal told Business Journal.
A little over a decade later, after completing two degrees, Bhathal was ready to return to the family business. He was named president of the company in 2006 and, along with his sister, Lisa Berthal-Melage, privately spearheaded the acquisition of his equity-backed company.
Again, Bhathal did not intend to stay with the company long term.
“I entered the business with the intention of growing the company, scaling it, and enabling my parents to retire from the business before finally leaving the company,” said Bhathal.
Today, Bhathal is the founder and managing partner of Raj Capital. Raj Capital is a family investment office with four of his portfolio companies, including Raj Swim, which the family bought back from his private equity firm. He also serves on the boards of several prominent investment firms with significant operations in Orange County.
Through various business lines specializing in sports, real estate and consumer products, Bhathal is not only interested in bringing benefits to families and investors, but also in making a positive difference in the communities in which he invests. I have.
“We are interested in making a positive impact on society, such as our efforts to invest in historically low-income communities through our Opportunity Zone platform,” said Bhathal.
Bhathal was one of five entrepreneurs recognized by the Business Journal at the Excellence in Entrepreneurship Awards held at the Irvine Marriott on March 9.
newport beach start
The family formed the blueprint for Berthal’s entrepreneurial career.
“I grew up in a family that has been in business for some time, starting with my maternal grandparents who moved to Newport Beach in the 1940s,” says Chris, who started a real estate development company and built properties in California, Arizona, and Nevada. bottom.
His father Raj moved from India to Los Angeles in the 1960s, where he met Berthal’s mother Marta. The two married, moved to Newport Beach, and started Raj Swim in 1967.
“I have seen how hard they work and the joy they derive from being able to run a successful business and provide food for people in the community,” says Bhathal.
He joined Raj Swim in 2000 after completing undergraduate studies at the University of California, Los Angeles and graduate school at the University of Southern California Business School.
“We digitized and globalized the company” before the brothers closed the business in 2015. The company has since been brought back under the family umbrella and is headed by Bira Bhathal.
sports, real estate focus
In 2013, the family purchased ownership of the Sacramento Kings NBA team and joined the city’s efforts to build a new basketball arena and other mixed-use areas around the stadium.
The company has invested $1 billion in developing the Golden 1 Center, which opened in 2016, and the Downtown Commons, a retail and entertainment district. The investment has raised an additional $1.4 billion within a 1.5 mile radius of the arena.
The family is finishing construction of the final components to the Downtown Commons, a reimagined and renovated office building.
The project is led by RevOZ Capital, which Raj Capital started as an early adopter of Opportunity Zone real estate investments.
Following his success in Sacramento, Bhathal is seeking other stadium-fixed real estate opportunities through Revitate, Raj Capital’s newest line of business that invests in consumer goods, sports and real estate.
We are considering acquiring existing projects as well as developing new mixed-use developments.
“Last year we pursued an opportunity to build a new sports arena in San Diego. It was work.”
board work
Revit is currently focused on multifamily and industrial development in secondary cities such as Indianapolis, SC, Charleston, SC, and Albuquerque, New Mexico. Most recently, he invested an undisclosed amount in a 4,400-acre Nevada logistics project owned and developed by local commercial real estate Mark IV Capital. investment platform.
Bhathal is a director and director of Compass Diversified (NYSE: CODI), owner of 10 middle market businesses, including Orange County’s 5.11 Tactical and Lugano Diamonds, and Aspyr Holdings, one of the largest developers. I also serve He is the franchiser of Orangetheory Fitness.
He is also a senior operating partner at San Juan Capistrano-based RX3 Growth Partners, a consumer growth fund that quadrupled its assets last year to $200 million. Its founders include Aaron Rodgers, Byron Roth and Nate Raabe (see separate article on page 1).
Revit has earned a nearly billion-dollar valuation by creating a rowing machine with screens that display world-famous sea scenes, similar to what Peleton Interactive did with its exercise bike Hydro. Introduced consumer products such as the RX3.
Revitate Cherry Tree is a fast-growing company, launched in 2021 as a multifamily investment fund with former Irvine Co. alum Chris Marsh. The company counts his portfolio of over 800 units in the Midwest.
“We will maintain workforce housing to address an overlooked need in the market and increase inventory for moderate income renters such as teachers, firefighters and entry-level workers. We are doing it,” said Bhatal.
2015 Business Journal Women in Business Award winner Lisa Bhathal Merage leads Revitate’s social impact efforts as Chief Impact Officer and serves as Managing Partner and Co-Founder of The Family Office.
“She spearheads our efforts to bring positive growth to our community,” said Bhathal.
Outside of the family business, board and non-profit activities, Bhathal’s hobbies include “spending time with my wife and young son” from his home in Newport Beach and staying as active as possible.
He is a Boston Marathon finisher and completed the Santa Cruz Ironman 70.3.
“Right now I’m focused on the shorter races scheduled for June,” Basal said.
