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☆ Raine details 3 themes driving its sports investing as it hunts for more deals
▼ + stars: | 2024-04-25 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Raine was an early investor in DraftKings — which helped establish the US sports-betting sector — and has been investing at a rate of about three companies a year. Raine is looking to take stakes in leagues with rights they can monetize in various ways and invest in growing, founder-led companies. Raine says college sports still hold a big opportunity for outside investors, even if the structure of college athletics adds complexity. In 2019, Raine helped the Pac-12 Conference explore raising private equity (which it ultimately decided against doing). Raine also helped the PGA Tour raise $3 billion this year through a for-profit entity.

Persons: Joe Ravitch, Jeff Sine's, It's, Raine, Colin Neville, that's, Garrett Gomes, Raine isn't, Banks, JPMorgan Chase, Neville Organizations: Imagine, Business, Apple, Premiere Lacrosse League, RCX Sports, Private, Florida State, Sixth, JPMorgan, CNBC, PGA Locations: DraftKings, Florida

☆ 16 VCs that are funding the future of entertainment by backing generative AI and other disruptive tech
▼ + stars: | 2024-01-12 | by ( Lucia Moses | ) www.businessinsider.com time to read: +17 min

AdvertisementAfter a period of "wild west" investing in AI, Blank believes activity will favor AI companies that respect artists' consent and compensation. It recently co-led a $1 million seed round in Conduiit, which centralizes entertainment companies' production finance operations. Endeavor Venture InvestmentsEndeavor Venture Investments is the venture arm of entertainment and sports behemoth Endeavor. SWaN & LegendThe Virginia-based VC firm has a broad consumer portfolio that includes a number of entertainment investments. With Hollywood in contraction, SWaN has largely hit pause on new entertainment investments to get its portfolio companies on a strong footing.

Persons: Michael Blank, Blank, Jon Miller, Miller, Slack, Garnet Heraman, BDMI, Urs Cete, Michael, TMRW, Tiger Woods, Rory McIlroy, Elysian Park Ventures Jay Adya, Grant Lamos, Tom Brady, Gotham Chopra, Michael Strahan, Jay Adya, Morgan, Kushaan Ahuja, Drew Glover, Glover, Alex Harris, they've, Noah Doyle, Payback India, Jed Katz, Rich Greenfield, Rich, Ilya Pozin, Jamie Seltzer, LightShed, Steve Cohen's, it's, Sri Chandrasekar, Tripp Shriner, Ishan Sinha, That's, Wondery, Ian Doody, Raine, Gordon Rubenstein, Joe Ravitch, Jeff Sine, ‐, Fred Schaufeld, SWaN, that's, Oscar, Jose, Schaufeld, Sam Wick, Alex J, Investcorp, Paul Yoo, Edgar Bronfman Jr, Daniel Leff, Waverley, Leff Organizations: Service, Creative Artists, Connect Ventures, Business, Hollywood, Veteran, TPG, Integrated Media Co, Advancit, CAA, Bertelsmann, Waverley, Octopus Ventures, Accel, Facebook, Venture, Aperture Venture, Bertelsmann Digital Media Investments, Fremantle, Connect, CAA Connect Ventures, New Enterprises Associates, TMRW Sports, Disney, Universal, Elysian Park Ventures, Elysian, Sports, Endeavor Venture, Endeavor Venture Investments, behemoth Endeavor, Dapper Labs, Fiat Ventures, Fiat Ventures Fiat Ventures, Fiat, Payback, Rent, LightShed, Rich Greenfield Influential, LightShed Ventures, Pluto, Apple, Octopus Ventures Octopus Ventures, Investments, Corp, Etsy, Re, Point72 Ventures New York Mets, Range Media Partners, Point72 Ventures, Sri, Powerhouse, Athletic, The New York Times Co, Evolution Media, Creative Artists Agency, Astro, Rave Digital Media, Accel Entertainment, Jose Andrés Media, Berliner, UTA Talent, UTA, UTA Ventures, Ventures, VR, Amazon, PFL Locations: blockchain, —, Conduiit, fintech, London, Australia, Papercup, Los Angeles, Virginia, UTA.VC

☆ Opinion | Every American City Needs a Richard Ravitch
▼ + stars: | 2023-07-28 | by ( Nicole Gelinas | ) www.nytimes.com time to read: +1 min

Much of Midtown was still empty, but Mr. Ravitch was not the type to work from home. Until the end, even as a younger generation of business people viewed the full-time office as optional — along with Manhattan itself — Mr. Ravitch remained moored to a physical place. Mr. Ravitch’s office is now empty, too. Many American cities find themselves without patrons who feel their own worth and purpose tied to their hometowns’ fortunes. Mr. Ravitch’s death was not just the end of an era in New York — it also laid bare the vacuum that American cities have to fill.

Persons: Richard Ravitch, Ravitch, —, Ravitch’s Locations: Manhattan, Midtown, New York City, New York

☆ Richard Ravitch and the Matzo Summit That Saved New York
▼ + stars: | 2023-06-28 | by ( Ginia Bellafante | ) www.nytimes.com time to read: +1 min

On Oct. 17, 1975, New Yorkers learned from the morning papers that the city was more or less finished. The big bill — $453 million that City Hall owed its creditors after years of borrowing — was due at 4 o’clock that afternoon. It depended on the teachers’ union tapping its pension funds to buy bonds from the Municipal Assistance Corporation. Mr. Ravitch had a well-earned reputation as a top-drawer fixer, and the governor was essentially asking him to save New York City. Mr. Ravitch and Mr. Shanker talked all night, but they parted without a resolution.

Persons: New Yorkers, —, Richard Ravitch, Ravitch, Hugh L, Carey, Al Shanker, Shanker Organizations: City, Municipal Assistance Corporation, Federation of Jewish, New Locations: New, New York City

☆ Richard Ravitch, Rescuer of the Subways and New York’s Finances, Dies at 89
▼ + stars: | 2023-06-26 | by ( Sam Roberts | ) www.nytimes.com time to read: +1 min

Richard Ravitch, a politically savvy, civic-minded developer and public citizen who helped rescue New York City from the brink of bankruptcy and its decaying subways from fiscal collapse, died on Sunday in Manhattan. His death, in a hospital, was confirmed by his wife, Kathleen M. Doyle. Mr. Ravitch never won elective office. He later served as New York’s lieutenant governor, enlisted by David A. Paterson in 2009 to lend gravitas to his teetering administration. (Mr. Paterson had succeeded Eliot Spitzer, who resigned in disgrace after a prostitution scandal.)

Persons: Richard Ravitch, Kathleen M, Doyle, Mr, Ravitch, David A, Paterson, Eliot Spitzer Organizations: New, Urban Development Corporation, Metropolitan Transportation Authority Locations: New York City, Manhattan, New

☆ Watch CNBC’s full interview with The Raine Group's Joe Ravitch
▼ + stars: | 2023-04-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with The Raine Group's Joe RavitchJoe Ravitch, The Raine Group co-founder and partner, joins ‘Closing Bell: Overtime’ to discuss its acquisition of boutique bank Code Advisors and betting on Silicon Valley.

☆ Dealmaker Raine Group bucks the M&A blues
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 5 (Reuters Breakingviews) - Amid a dealmaking drought, The Raine Group’s rainmakers are creating some flow themselves. And now it has unveiled an acquisition of its own, buying Code Advisors, a technology-focused boutique M&A firm co-founded by former CBS executives Quincy Smith and Michael Marquez. It is the first purchase for Raine since it was co-founded by a group including Joe Ravitch and Brandon Gardner in 2009 in the aftermath of the last big downturn. Since then, Raine has ballooned to 170 people with about 20 partners advising on transactions such as last year’s 4.25 billion pound ($5.3 billion) sale of Chelsea Football Club. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ How Gerry Cardinale became the go-to dealmaker for the likes of the Yankees, AC Milan, and Ben Affleck
▼ + stars: | 2022-12-29 | by ( Hayley Cuccinello | Dakin Campbell | ) www.businessinsider.com time to read: +20 min

He bought the soccer club AC Milan in August, earning the attention of the Italian press. This past spring, AC Milan won its first national title in 11 years. Claudio Villa/AC Milan via Getty Images Show less Cardinale at a training session for AC Milan. For instance, the teams sell each other's merchandise in their stadiums, and the YES Network airs AC Milan games. "Now we have a new phase of expansion and internationalization of AC Milan with Gerry."

SINGAPORE, Sept 28 (Reuters) - Southeast Asia's digital media and tech sectors, underpinned by young consumers and one of the fastest growing internet markets, had drawn U.S. investment bank Raine Group to expand in the region, senior executives said. Global media, entertainment and gaming giants are ramping up their presence in Southeast Asia's fast-growing economies. Raine specializes in media, sports and technology deals and also oversees $4 billion in growth equity and venture capital. It advised Southeast Asia's biggest ride-hailing firm Grab on its purchase of Uber's regional business in 2018. Reuters reported last week that Raine had tapped Jonathan Pflug, Morgan Stanley's head of Southeast Asia M&A, to lead its regional coverage.

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