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Mubadala Development Company has Agreed to Acquire an Equity Stake in Digital Media, Entertainment and Sports Merchant Bank, The Raine Group

Mubadala Development Company (“Mubadala”) has agreed to acquire a 9 percent 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.

11 March 2010

Mubadala Development Company (“Mubadala”) has agreed to acquire a 9 percent 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.

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.”

About Mubadala Development Company

Mubadala Development Company (Mubadala) is a catalyst for the economic diversification of Abu Dhabi. Established and owned by the Government, the company’s strategy is built on the management of partnerships and long-term, capital-intensive investments that deliver strong financial returns and tangible social benefits for the Emirate, and contribute to the growth and diversification of the Abu Dhabi economy.

Mubadala brings together and manages a multi-billion dollar portfolio of local, regional, and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors including aerospace, energy and industry, healthcare, information communications and technology, infrastructure, real estate and hospitality. For more information about Mubadala please visit http://www.mubadala.ae

About The Raine Group

The Raine Group is a boutique merchant bank focused exclusively on entertainment, digital media and sports. Founded in 2009 by Joseph Ravitch and Jeffrey Sine, in partnership with WME, Raine has offices in New York, Los Angeles and Beijing.

Media Contacts:

Mubadala Development Company
Kirstin McKellar
Edelman Public Relations
E:
M: +971 (0)50 4415 988

The Raine Group
The Abernathy MacGregor Group
Steve Bruce/Mary Beth Grover/Brendan McManus
212.371.5999