The Raine Group
The Raine Group is a private integrated merchant bank that advises and invests across sports, content, music, and gaming, providing M&A advisory, private capital raising, and ~$2.8B AUM growth equity and venture capital through nine global offices.
- Company typePrivate
- Founded2009
- HeadquartersNew York, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What The Raine Group does
The Raine Group is a privately held integrated merchant bank founded in 2009 and headquartered in New York, providing M&A advisory, divestitures, private capital raising, and strategic advisory services to clients in sports, content, music, and gaming, with cross-sector capabilities in advertising, commerce, and technology. The firm operates through nine global offices (New York, Los Angeles, San Francisco, London, Paris, Barcelona, Mumbai, Shanghai, Singapore) and a regulated entity stack including Raine Securities LLC (FINRA/SIPC broker-dealer), Raine Capital LLC (SEC-registered investment adviser), Raine Advisors Limited (FCA-regulated), Raine Advisors India Private Limited (SEBI-registered merchant banker), and Raine Singapore Pte. Ltd. Revenue is generated across three streams: advisory fees on M&A and capital raising mandates (transactional, retainer, and success-based), asset management fees and carried interest on approximately $2.8 billion AUM as of December 31, 2025 (across Raine Partners growth equity including the $760 million Raine Partners IV LP and Raine Ventures), and broker-dealer / capital markets fees from Raine Securities LLC. The platform is augmented by Raine Search, an internal semantic search AI tool built in partnership with AfterQuery that supports precedent retrieval and deal workflows.
The firm's go-to-market is relationship-driven and senior-led: partners personally originate and execute mandates, with selective engagement restricted to transactions where the firm believes its involvement can maximize outcomes. Marquee mandates span decades-long relationships (Endeavor across 20+ M&A transactions; DraftKings since 2014) and landmark transactions including the $21 billion WWE-UFC merger forming TKO Group Holdings, the $8.5 billion Disney-Star India/Viacom18-Reliance merger creating JioStar, the proposed $28 billion Skydance-Paramount Global merger, the £4.25 billion Chelsea FC sale, and the $3 billion NBA Europe league launch co-advised with J.P. Morgan. The principal investing arm (Raine Partners IV and Raine Ventures) deploys capital across the same verticals — including recent Series A and Series C investments in Midnite, Duetti, Cypher Games, Kohort, and AfterQuery — generating alignment with advisory clients and reinforcing deal flow.
The firm is founder-led (Joe Ravitch, Jeff Sine, Brandon Gardner, John Salter, Deborah Mei), with a leadership bench drawn predominantly from bulge-bracket institutions (Goldman Sachs, Morgan Stanley, UBS, Credit Suisse, Citigroup). A growing technology and capital markets platform is being assembled through the April 2023 acquisition of Code Advisors and the February 2026 hire of Credit Suisse ECM veteran Anthony Kontoleon, alongside ongoing AI infrastructure investments via the AfterQuery partnership.
The Raine Group firmographics
Firmographics- Name
- The Raine Group
- Legal name
- The Raine Group LLC
- Website
- https://raine.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- The Raine Group is a private integrated merchant bank that advises and invests across sports, content, music, and gaming, providing M&A advisory, private capital raising, and ~$2.8B AUM growth equity and venture capital through nine global offices.
- Ownership category
- akta.pro rank
The Raine Group industry classification
Industry- Product category
- Investment Banking and Merchant Banking Services
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Miscellaneous Financial Investment Activities (523999)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211), Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Corporate Development & Strategic Partnerships Advisory (JVs, Alliances, Carve-outs) (BPAHAOAG)
- akta.pro secondary industry
- Management Buyouts (MBO/MBI) & Sponsor-Led Transactions Advisory (FSAEAGAI)
Keywords
Where The Raine Group is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices9 records
Markets served
The Raine Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain, Others
Revenue model
- Investment Banking Advisory Fees: Recurring and transactional advisory fees from M&A, divestitures, private capital raising, and strategic advisory engagements across sports, content, music, gaming, and technology sectors. Mandate-based engagements with retainers and success fees.
- Asset Management / Fund Management Fees & Carry: Management fees and carried interest from Raine's growth equity funds (Raine Partners I-IV) and Raine Ventures. AUM of approximately $2.8 billion as of December 31, 2025. Raine Partners IV LP is a $760 million growth equity fund.
- Broker-Dealer Capital Markets Activities: Underwriting fees, private placement commissions, and equity capital markets fees generated through Raine Securities LLC, a FINRA/SIPC registered broker-dealer subsidiary.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
The Raine Group product offering
Product offeringCore offering
The Raine Group is an integrated merchant bank delivering two core offerings: (1) Advisory services — M&A, divestitures, private capital raising, IPO advisory, and strategic counsel for clients in Sports, Content, Music, Gaming, and Technology, Media & Telecom sectors; and (2) Investment Management — growth equity (Raine Partners funds, including Raine Partners IV LP at $760M) and venture capital (Raine Ventures) deploying approximately $2.8B AUM into the firm's core verticals. Both lines are delivered through regulated subsidiaries including Raine Securities LLC (US broker-dealer) and international entities in the UK, India, and Singapore.
Product overview
The Raine Group is a single integrated merchant bank platform offering two principal business lines: an Advisory practice providing M&A, divestiture, and private capital raising services, and an Investment Management practice operating growth equity (Raine Partners) and venture capital (Raine Ventures) strategies. These two lines are delivered across four core verticals — Sports, Content, Music, and Gaming — with cross-sector capabilities in Advertising, Commerce, and Technology, and are supported by multiple regulated subsidiaries including Raine Securities LLC (registered broker-dealer), Raine Capital LLC (SEC-registered investment adviser), Raine Advisors Limited (FCA-authorized in the UK), Raine Advisors India Private Limited (SEBI-registered merchant banker in India), and Raine Singapore Pte. Ltd. Internally, the firm also operates Raine Search, a semantic search AI tool developed in partnership with AfterQuery to support firm-wide deal workflows.
Differentiator
Problem solved
Functional benefit
Brands
- Raine Ventures: Internal venture capital group within Raine, led by Managing Partner Gordon Rubenstein, focused on early-stage investments in sports, content, music, gaming, and technology.
- Raine Partners
- Raine Next-Gen Communications
Products and services
- Advisory Services Strategic advisory services delivering mergers and acquisitions advisory, divestitures, private capital raising, IPO advisory, restructurings, and other strategic corporate finance counsel for clients in Sports, Content, Music, Gaming, Advertising, Commerce, and Technology sectors.
- Investment Management (Raine Partners and Raine Ventures) Growth equity and venture capital investment strategies with approximately $2.8 billion in assets under management, deploying capital across sports, content, music, and gaming verticals. Includes Raine Partners IV LP, a $760 million growth equity fund, and Raine Ventures.
- Raine Securities LLC (Broker-Dealer Services) FINRA-registered broker-dealer subsidiary providing financial advice on mergers, acquisitions, financial restructurings, private placement of securities, and underwriting activities for Raine clients.
- Raine Capital LLC (Investment Advisory) SEC-registered investment adviser managing Raine's growth equity and venture capital investment strategies, with integration of ESG considerations and sustainable risk assessment in investment decision-making.
- Raine Advisors Limited (UK Advisory) UK-based entity authorized and regulated by the Financial Conduct Authority (FRN: 990522), providing advisory services across the UK and Europe.
- Raine Partners IV LP Growth Equity Fund A $760 million growth equity fund managed by Raine Partners, deploying capital into entertainment and sports deals across the firm's core verticals.
- Raine Ventures (Venture Capital) Venture capital group within Raine, led by Managing Partner Gordon Rubenstein, focused on early-stage investments in sports, content, music, gaming, and technology.
Quantifiable outcome
- $8.5 billion Disney-Star/Viacom18 merger — largest media M&A ever completed in India
- +7 more outcomes
Companies that use The Raine Group
Customer profileNamed customers23 records
Segments6 records
Ideal customer profiles5 records
The Raine Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability6 records
Feature2 records
The Raine Group partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered minor, core and flagship.
- Fortt Knox Innovation Lab / VersantminorFred Davis (Partner at The Raine Group) was featured discussing partnership and strategic initiatives relating to the Fortt Knox Innovation Lab, which is associated with Versant.
- Kohort (Portfolio Company)coreBeyond leading the Series A, Raine Partners provides strategic guidance to Kohort as it scales its AI user acquisition agent suite, including the flagship Ktrl product.
- AfterQueryflagshipAfterQuery partnered with The Raine Group to improve enterprise AI infrastructure by building firm-specific data systems, including a semantic search tool called Raine Search. The focus was on organizing scattered precedents and workflows to enable faster, more accurate analysis and to prepare Raine for more advanced AI deployment. This is also an investment relationship (AfterQuery's $30M Series A included participation from Raine).
- Haveli Investments / Budge StudioscoreRaine Group served as exclusive financial advisor to Haveli Investments on its acquisition of Budge Studios from General Atlantic. Budge Studios is a Montreal-based children's games developer with over 2B mobile game downloads.
- Midnite (Operating Investment)flagshipRaine has been a long-term investor in Midnite since at least the Series B round. John Salter (Raine Co-Founder) sits on the board of Midnite. Teddy Kleinman (Raine VP) is a Board Observer. Raine continues to support Midnite's product development and international expansion strategy.
- J.P. MorganflagshipJ.P. Morgan and Raine Group are serving as joint financial advisors for the launch of NBA Europe — a $3 billion investment by the NBA and FIBA to create a new European basketball league featuring 12 permanent franchises. Co-advisors on the structural design, market sounding, and franchise sales process.
- Emerging Media Ventures (Manoj Badale)coreEngaged as sell-side advisor to Rajasthan Royals' majority owners Emerging Media Ventures (Manoj Badale, ~65% stake) for the sale of a majority stake in the IPL franchise. Process targeted valuations exceeding $1B with options ranging from majority stake to full exit.
- Reliance Industries LimitedflagshipRaine served as lead financial advisor to The Walt Disney Company on the $8.5B merger of Disney's Indian media assets with Reliance Industries to create JioStar — a transformational deal combining Star India and Viacom18. The deal included a $1.4B investment by Reliance Industries Limited.
Scale indicators10 records
Recent moves7 records
Expansion highlights6 records
The Raine Group competitors and assessment
Company assessmentDirect peers
- Allen & Company: Closely comparable boutique merchant bank with a sports, media, and entertainment focus and an integrated advisory-plus-principal-investing model. Raine is widely seen as the modern challenger to Allen & Company in sports and entertainment M&A, with a similar senior-led, selective engagement approach.
- LionTree: Boutique TMT-focused merchant bank founded by Aryeh Bourkoff offering independent advisory services to media, telecom, and technology clients. Directly comparable to Raine in scale, sector specialization, and senior-led boutique execution.
- Centerview Partners: Independent advisory firm founded by former UBS bankers, with a comparable senior-partner model, selective engagement approach, and growing presence in media and entertainment M&A. Comparable scale and business model to Raine.
Broad incumbents
- Moelis & Company: Larger publicly-traded independent investment bank with a global M&A advisory practice. Overlaps with Raine in TMT and entertainment M&A but operates as a broader, generalist platform rather than a sector-specialized boutique.
- PJT Partners: Independent advisory firm spun out of Blackstone with a similar founder-led culture and TMT advisory strength. Comparable in size and boutique positioning to Raine, though more diversified across industries.
- Evercore: Independent advisory firm with a large TMT practice and similar senior-led, independent model. Larger and more diversified than Raine, but directly comparable in serving TMT clients with senior banker attention.
- Perella Weinberg Partners: Independent advisory firm founded by veteran bankers with a strong TMT practice. Jake Vachal, a current Raine Partner, joined from Perella Weinberg, evidencing direct talent flow and comparable positioning in TMT M&A.
- Jefferies: Mid-market focused full-service investment bank with strong sports, media, and entertainment advisory practices. Competes with Raine on sports and entertainment M&A mandates but offers broader capital markets and research capabilities.
Emerging players
- Qatalyst Partners: Technology-focused boutique investment bank specializing in M&A for software, internet, and tech-enabled companies. A new Raine Vice President (Chris Nee) joined from Qatalyst, indicating direct comparability and talent flow in technology M&A advisory.
- Code Advisors: San Francisco-based boutique technology and media M&A advisor co-founded by Quincy Smith and Michael Marquez. Was an independent peer until acquired by Raine in April 2023, with Smith now a Raine Partner. Historically a direct peer in TMT M&A advisory.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
The Raine Group social profiles
Digital presenceThe Raine Group compliance and trust
Trust signalCompliance7 records
The Raine Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Raine Group leadership team
Management profileNumber of profiles
Profiles15 records
The Raine Group subsidiaries and ownership
Company hierarchySubsidiaries6 records
The Raine Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Raine Group M&A and investment
M&A and investmentM&A2 records
Investments97 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Raine Group
What does The Raine Group do?
The Raine Group is an integrated merchant bank delivering two core offerings: (1) Advisory services — M&A, divestitures, private capital raising, IPO advisory, and strategic counsel for clients in Sports, Content, Music, Gaming, and Technology, Media & Telecom sectors; and (2) Investment Management — growth equity (Raine Partners funds, including Raine Partners IV LP at $760M) and venture capital (Raine Ventures) deploying approximately $2.8B AUM into the firm's core verticals. Both lines are delivered through regulated subsidiaries including Raine Securities LLC (US broker-dealer) and international entities in the UK, India, and Singapore.
Is The Raine Group a public or private company?
The Raine Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was The Raine Group founded?
The Raine Group was founded in 2009. It employs 101 to 250 people.
Where is The Raine Group based?
The Raine Group is headquartered in New York, United States, in the North America region.
How does The Raine Group make money?
Three revenue lines are on record. Investment Banking Advisory Fees are the primary driver. The others are asset Management / Fund Management Fees & Carry and broker-Dealer Capital Markets Activities.
Who are The Raine Group's main competitors?
Direct peers on record are Allen & Company, LionTree and Centerview Partners. Broad incumbents are Moelis & Company, PJT Partners, Evercore, Perella Weinberg Partners and Jefferies. Emerging players are Qatalyst Partners and Code Advisors.
Does The Raine Group have an API?
No public API is recorded for The Raine Group.
What industry is The Raine Group in?
The Raine Group's product category is Investment Banking and Merchant Banking Services. Its primary akta.pro industry code is BPAHAOAG, Corporate Development & Strategic Partnerships Advisory (JVs, Alliances, Carve-outs), with a secondary code of FSAEAGAI, Management Buyouts (MBO/MBI) & Sponsor-Led Transactions Advisory. Its NAICS code is 523940 and its SIC code is 6282.