Mubadala to acquire equity stake in Raine

Abu Dhabi: Mubadala Development Company (Mubadala) has agreed to acquire a 9 per cent equity stake in The Raine Group LLC (Raine).

Mubadala and Raine will seek to capitalize on emerging investment opportunities in the media, entertainment and sports (MES) sectors around the world.

Raine, a boutique merchant bank focused exclusively on MES, was founded by MES veterans Joe Ravitch, former senior partner and global head of media at Goldman Sachs, and Jeff Sine, former Vice-Chairman and global head of Technology, Media & Telecom at UBS. The Company operates out of three offices: New York, Los Angeles and Beijing.

Raine has also secured exclusive relationships with William Morris Endeavor (WME), one of the leading entertainment agencies in the world. Mubadala and WME will be investors in Raine alongside private equity pioneer Ted Forstmann.

Mubadala, Abu Dhabi’s strategic investment arm, manages a multi-billion dollar portfolio designed to deliver both financial and social value to the Emirate.

It oversees assets in a variety of sectors ranging from aerospace to energy to healthcare.