Raine Group secures inaugural $475 million in funding
The Raine Group has closed its inaugural $475 million private equity fund, the entertainment and media investment company said Tuesday.
Raine said it has already closed deals to invest in three companies: multimedia business Vice, gaming manufacturer Jagex, and the e-commerce platform OpenSky.
The firm also announced that Glenn H. Schiffman, the former head of domestic investment banking at Nomura Holdings, will become a partner.
Raine, founded by former Goldman Sachs investment banker Joe Ravitch and former UBS banker Jeff Sine, has a number of deep-pocketed Hollywood backers, including the talent agency William Morris Endeavor and its chief Ari Emanuel.
In addition, Tom Freston, former president and CEO of Viacom, Peter Chernin, former chief operating officer of News Corp., are board members.
Raine also announced that Sherri A. Williams was named managing director for private placements and capital markets. Williams joins Raine from Montgomery & Co.
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