WME-Backed The Raine Group Shuts $475 Million Funding Deal, Develops Holdings

NY, March. 11, 2011 The Raine Group, the world merchant bank focused exclusively on entertainment, digital media and sports, introduced today the closing of the flagship private equity finance finance fund. With roughly $475 million in assets under management, Raine has completed three principal possibilities, including multimedia giant Vice, browser-based games giant Jagex, and celebritycurated ecommerce platform OpenSky. We are thrilled to have effectively completed our fundraising event process, mentioned Rob Sine, among Raines 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. Raine also introduced that veteran media banker Glenn H. Schiffman grew to become an associate from the firm just like a Partner. Schiffman has greater than 2 decades of investment banking experience and several recently offered as mind of investment banking inside the Americas for Nomura Holdings, and before that mind of investment banking Asia-Off-shoreline. Right before joining Nomura, Schiffman spent 17 years at Lehman Brothers and sisters dedicated to media and entertainment for a lot of of his career, becoming global mind in the media group after which as mind of investment banking Asia-Off-shoreline. We, which now amounts 35 globally, is much more effective than in the past and Glenn is a superb addition, mentioned Raine co-founder Joe Ravitch. We've known Glenn for quite some time which he is amongst the thoughtful, respected and well-connected media bankers available. His leadership and client impact will probably be instrumental in aiding we after we both still build our advisory business and identify investment options for that fund. Rob, Joe which i've labored together on many media deals over time. In Raine, they introduced together an amazing network of contacts from within the industry and possess done a fantastic job carrying out their vision. I am thrilled to offer the opportunity to result in this kind of unique platform, mentioned Schiffman. Raine also introduced that Sherri A. Williams was named Controlling Director website hosting Positions and Capital Areas. Williams joins Raine from Montgomery & Co. where she was instrumental in building the firms private positioning business. Raine also introduced three new addendums to its advisory board Miky Lee, Chairman of CJ Group, Koreas greatest media and entertainment company, Steven Newhouse, Chairman of Advance.internet, the net strategy arm of Cond Nasts Advance Publication division, and Theo Kyriakou, Boss of Antenna Group, the important thing broadcasting firm inside a vacation in a holiday in greece. Formerly introduced advisory board people take advantage of the sports and technology industries and will include Tom Freston, former Leader and Boss of Viacom, Peter Chernin, former chief operating officer of News Corp, and Masayoshi Boy, founding father of Softbank.