Raine Group sets equity fund

The Raine Group has completed the fundraising event due to its flagship private equity finance finance fund, growing their achieve into entertainment, digital media and sports possibilities exceeding $475 million assets under management. Raine mentioned Tuesday it's completed three principal possibilities while using fund: multimedia company Vice, browser-based games giant Jagex, and celebrity-driven e-commerce platform OpenSky. "We are thrilled to have effectively completed our fundraising event process," mentioned Rob Sine, among Raine's two founders. "This is often a significant milestone for Raine which we're searching toward the prospects for that possibilities so far and our capacity to still gather strong management teams with this particular limited partners to accomplish round the global options we view inside our focus areas." Company also introduced that media banking vet Glenn Schiffman has grew to become an associate from the firm just like a partner. Schiffman arises from Nomura Holdings, where he headed investment banking. Before Nomura, he spent 17 years at Lehman Brothers and sisters. Sherri Williams has grew to become an associate of Raine as controlling director website hosting positions and capital areas. She was formerly with Montgomery & Co., where she was aided build the firm's private positioning business. Sine and Ernest Ravitch and founded Raine, a merchant bank focused solely on entertainment, digital media and sports, as well as WME this past year. Contact Rachel Abrams at Rachel.Abrams@variety.com