The SoftBank Ally Pulling the Strings Behind Arm’s IPO
The Raine Group has pushed its way into huge deals, leveraging the connections it fosters by advising on mergers and investing in founders.
For more than a decade, the Raine Group has wielded its connections—especially to SoftBank CEO Masayoshi Son—to land big deals and punch above its weight on Wall Street. Next week, one of the most hotly anticipated initial public offerings in years will serve as the latest test of their partnership.
Raine holds a flagship position on SoftBank-owned Arm Holdings’ blockbuster offering, which could be a coup for a bank that isn’t known for dealing in IPOs. Raine itself could earn as much as 10% of the total advisory fees on the deal, or $10 million. But the stakes are high—Arm is aiming to raise about $5 billion, the most since Rivian went public in 2021. Arm's IPO is viewed as a bellwether that, if it does well, could help open the floodgates of the IPO market after more than a year of quiet.