Mubadala buys 9 percent stakes in Raine Group

mubadala-logoMubadala Development Company, the investment arm of Abu Dhabi government, has acquired 9 per cent stakes in a US-based merchant bank the Raine Group, a renowned name in the field of media, entertainment and sports in New York, Los Angles and Beijing.

Commenting on the development, the founding partner at Raine told, "Abu Dhabi and Mubadala could help to shape the sports and entertainment sectors. Having a strong capital partner such as Mubadala is an exciting way for us to position our business globally."

Mubadala, World's largest entertainment agency William Morris Endeavor and private equity pioneer Ted Forstmann would the investor in the US based investment bank.

The William Morris Endeavor (WME) has a large number of reputed clients including A-listers such as Adam Sandler, Keira Knightley, Clint Eastwood, Denzel Washington, Amy Adams, Richard Gere, Shia LaBeouf, Michael Bay, Russell Crowe, and Mel Gibson.