Mubadala Development Company, the investment arm of Abu Dhabi acquired a 9% stake in Raine Group, a boutique merchant bank, as they seek to capitalize on emerging investment opportunities in the media, entertainment and sports ("MES") sectors around the world.
Raine has also secured exclusive relationships with William Morris Endeavor ("WME"), an entertainment agency. In addition to Mubadala and WME, Raine’s investors also include private equity pioneer Ted Forstmann. Abu Dhabi and Mubadala could help to shape the sports and entertainment sectors as the industry continues to change and grow through new technologies and geographies.
Mubadala is listed in the Middle East Investors Directory with the code EM14.
Their full release follows
Mubadala Development Company ("Mubadala") has agreed to acquire a 9 percent equity stake in The Raine Group LLC ("Raine"). They 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. Speaking from the inaugural Abu Dhabi Media Summit, Waleed Al Mokarrab Al Muhairi, Chief Operating Officer of Mubadala, said, "We are proud to be partnering with Raine. Their ambition, expertise and vision are precisely the traits we seek in our partners and ones that are suited to capitalize on the opportunities the global digital media, entertainment and sports sectors present." Joe Ravitch, one of Raine’s two founding partners, said, "We are delighted to have Mubadala as our partner. Their global presence and preeminent position in the region makes them an ideal partner for an industry full of opportunities around the world, and particularly in emerging markets such as the Middle East and Asia." "Abu Dhabi and Mubadala could help to shape the sports and entertainment sectors and we are thrilled to work with them as this industry continues to change and grow through new technologies and geographies," said Jeff Sine, Raine’s other founding partner. "Having a strong capital partner such as Mubadala is an exciting way for us to position our business globally."
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