Raine Group Opens Expanded London Office
Jason Schretter, promoted to partner, will help lead the firm's efforts on the ground and oversee its initiatives across the Europe, Middle East and Africa region.
The Raine Group, the merchant bank focused on technology, media, and telecommunications that has invested in such companies as Imagine Entertainment and helped Universal arrange a slate financing deal with China's Perfect World Pictures, has opened a newly expanded London office.
The office in the Marylebone neighborhood will include Jason Schretter, who has been promoted to partner. Schretter, who joined Raine in 2010, focuses on advising and investing across the global media and communications sector and will help lead the firm's efforts on the ground alongside partner Fred Davis, who will continue to split his time between Europe and the U.S. Schretter will also lead the firm's initiatives across the broader Europe, Middle East and Africa (EMEA) region.
"With our global focus, Europe has always been an important component of our business," said Brandon Gardner, president of Raine. "Over the last few years we have seen increased activity in our sectors and a resurgence of interesting opportunities there. Jason has been with us since nearly the beginning of the firm and instrumental in growing our business to date, so we are excited to have him in this new role."
Said Schretter: "The unique knowledge and depth of the Raine team in the TMT industry -- both by sector and geography -- provides us with an unparalleled opportunity to leverage our global network to the benefit of our clients and investors. The expansion of our efforts in London will allow us to further grow and enhance our advisory and investment initiatives in Europe and the Middle East. We are excited about the prospects to build on our momentum in the region."
Raine recently advised Japan's Softbank on the sale of its stake in Supercell to Tencent and the owner of soccer club Manchester City on a sale of a stake in the company to China Media Capital. It also advised German TV giant ProSiebenSat.1's Studio 71 on funding from TF1 Group and Mediaset.
Raine was launched in 2009 by Joe Ravitch, formerly of Goldman Sachs, and UBS' Jeff Sine. It has in excess of $2 billion in assets under management.