The Raine Group has closed its flagship private equity fund and now has $475 million in assets under management. Raine is a merchant bank focused exclusively on entertainment, digital media and sports. The firm also announced that it appointed Glenn H. Schiffman as a partner and Sherri A. Williams as a managing director for Private Placements and Capital Markets. Mr. Schiffman has most recently worked at Nomura Holdings and Ms. Williams at Montgomery & Co.