Jim Bernhard, a Louisiana business executive and the owner of Pin Oak Stud near Versailles, Ky., died Nov. 16 after a brief illness, according to multiple reports. The Baton Rouge resident was 71.
Farm employees got word of Bernard's passing Sunday from his widow, Dana, and son, Ben, who is vice president of Pin Oak Stud.
"In typical Bernhard family fashion, with all they had to deal with yesterday, they wanted to be sure all the employees knew yesterday that the farm operations will continue as normal. It is a big loss for sure," said farm adviser Clifford Barry.
Bernhard initially made his mark in the Louisiana business community after founding and growing The Shaw Group from a pipe manufacturing company into a publicly traded full engineering, procurement, and fabrication services company that rose onto the Fortune 500 list, according to the New Orleans Advocate.
After selling the company in 2013, he founded Bernhard Capital Partners, a private equity firm that has become one of the largest in the Gulf South with more than $5.5 billion in assets under management and 21 companies across the country in the energy services, industrial, and utilities sector.
The Bernhards got into the Thoroughbred business in 2021 at Fasig-Tipton Kentucky's The July Sale, its selected summer yearling sale in Lexington, where Jim bought a $350,000 colt by Candy Ride as a birthday present for Dana. That colt became grade 1 winner Geaux Rocket Ride and took the Bernhards from racehorse owners to farm owners by November 2022 when they bought Pin Oak Stud.
The Pin Oak operation was founded in the 1950s by Josephine Abercrombie and her father, J.S. "Mr. Jim" Abercrombie. After 35 years at the first location, Josephine Abercrombie moved Pin Oak to the current 750-acre farm, which was managed by Barry for more than three decades. Abercrombie passed away in January 2022 at 95.
"We were so fortunate to be able to purchase Pin Oak, and we hope to continue Ms. Josephine Abercrombie's legacy and commitment to Thoroughbred breeding and racing," Bernhard said after purchasing the farm. "We are committed to supporting the sport and modernizing the industry."
Their commitment to modernizing the approach to training included having all their horses wear biometric sensors during breezes at the farm and at the racetrack.
"All you have to do is look around the farm here to see the changes," Barry said. "Both Jim and Ben want to modernize the business and incorporate technology. But as important, it has always been about the people, too. It would be rare that I had conversation with Jim that he did not make the comment to make sure the employees had everything that they need and if they didn't, then I was to take care of it."
Barry said the farm has close to 50 people on the payroll.
Other successful horses campaigned by the Bernhards include Saratoga Derby Invitational Stakes (G1T) winner World Beater; grade 3 winners Incredibolt and Parchment Party, who started in this year's Melbourne Cup (G1); stakes winner Stars and Strides; and grade 3-placed winners Boltage and Megalodon.
The Bernhards' also have been committed to supporting the Thoroughbred community on multiple levels as shown by their pledge to donate all of the proceeds from their online shop to accredited Thoroughbred aftercare charities. For their substantial investment and dedication, they were honored by OwnerView with its 2023 New Owner of the Year award along with professional baseball player Alex Bregman.
Louisiana Gov. Jeff Landry said on the X social media platform about Bernhard's passing that Louisiana had "lost a giant."
"Jim Bernhard was one of Louisiana's most dynamic and visionary business leaders. His hard work built companies that created jobs, strengthened our economy, and showcased the very best of Louisiana," Landry posted. "Louisiana has lost a giant, but I know his legacy will endure for generations."
Jeff Jenkins, a co-founder of Bernhard Capital Partners, told the New Orleans Advocate that Bernhard "changed the business landscape of Louisiana like no one else."
"We are heartbroken by the unexpected passing of Jim Bernhard," Jenkins said. "He created jobs, built companies and opened doors for families across our state in ways that will be felt for generations."
Barry added that the Thoroughbred industry suffered a "big blow" in losing a person with Bernhard's vision and leadership.
"Jim had aspirations to do great things, and I truly believe that will continue with Dana and Ben. He would want us to move onwards and upwards," he said. "One of his favorite sayings was: the best has no equal. He strived to be that every day."
