Raine Group sets equity fund

The Raine Group has completed the fundraiser because of its flagship private equity finance fund, growing the business's achieve into entertainment, digital media and sports opportunities using more than $475 million assets under management. Raine stated Tuesday it's completed three principal opportunities using the fund: multimedia company Vice, browser-based games giant Jagex, and superstar-driven e-commerce platform OpenSky. "We're very happy to have effectively completed our fundraiser process," stated Shaun Sine, among Raine's two founders. "This can be a significant milestone for Raine and that we are looking forward to the prospects for the opportunities up to now and our capability to still gather strong management teams with this limited partners to complete around the global possibilities we have seen within our focus areas." Company also introduced that media banking vet Glenn Schiffman has became a member of the firm like a partner. Schiffman originates from Nomura Holdings, where he headed investment banking. Before Nomura, he spent 17 years at Lehman Siblings. Sherri Williams has became a member of Raine as controlling director web hosting positions and capital marketplaces. She was formerly with Montgomery & Co., where she was assisted build the firm's private positioning business. Sine and Frederick Ravitch and founded Raine, a merchant bank focused exclusively on entertainment, digital media and sports, together with WME last year. Contact Rachel Abrams at Rachel.Abrams@variety.com