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Raven Capital Sells Stake in Outback Presents’ Comedy Business to AEG Presents in Milestone Transaction
LOS ANGELES, May 04, 2026 (GLOBE NEWSWIRE) -- Raven Capital (“Raven”), an alternative investment firm specializing in asset-based, non-sponsor private credit, today announced that its portfolio company, Outback Presents, has completed the sale of a minority stake in its comedy business to AEG Presents, a leading global sports and live entertainment company.
The transaction marks a significant milestone in the transformation of Outback Presents, which operates across multiple live entertainment and related business lines, and represents an important step in Raven’s ongoing value realization strategy. The agreement contemplates the potential sale of additional interests in the comedy business to AEG over time. Financial terms were not disclosed.
Raven initially invested in Outback Presents in 2021 as a lender, following a period of significant disruption in the live entertainment industry caused by the COVID-19 pandemic, and subsequently led a comprehensive restructuring. As part of that process, Raven assumed ownership and partnered with a new management team led by Chairman Leigh Feuerstein, a highly regarded entrepreneur, to stabilize operations, reposition the platform and restore growth.
Today’s transaction reflects the success of that turnaround and the growing strategic value of Outback’s comedy platform within the broader live entertainment ecosystem. Live comedy has emerged as a significant and growing segment of the market, generating nearly $1 billion1 annually in ticket sales and benefiting from sustained demand for live experiences.
“Leigh is one of the most talented and thoughtful leaders we have had the opportunity to partner with,” said Dimitri Cohen, Principal and Chief Investment Officer of Raven. “What Leigh and his team have built at Outback Presents reflects extraordinary discipline, creativity and operational excellence. Under Leigh’s leadership, the business has evolved into an industry-leading platform. We are thrilled to welcome AEG as a partner in the comedy business and believe the platform is well positioned to continue growing and gain meaningful share in the years ahead. This transaction is a testament to Leigh’s leadership, and we are proud to continue working alongside him as we pursue the next chapter of growth.”
Raven will retain ownership of Outback Presents’ remaining businesses, including Since Entertainment and Evolution of Advertising, its music and data-driven audience engagement platforms, and will continue to partner with Mr. Feuerstein and the management team, who will remain in their roles as they lead the company’s next phase of growth across its core businesses and new opportunities in live entertainment.
This transaction comes amid a broader rebound in live entertainment, with global concert revenues reaching record levels in recent years, underscoring renewed demand for live experiences.
About Raven Capital
Founded in 2008, Raven Capital is an alternative investment firm specializing in asset-based, non-sponsor private credit. Owned by Dimitri Cohen, Gary Sumers, Jeremy Tucker, and Chris Felice, the firm focuses on originating senior secured loans to middle market borrowers. Raven’s Music Strategy, which specializes in the acquisition and management of cash-flowing music IP, serves as a distinct complement to the firm’s core lending business. Over its history, Raven has built a scaled platform, deploying over $3 billion across its core lending strategy. Raven’s investors include public and private pension funds, endowments, foundations and other institutional investors. For more information, please visit www.ravencm.com.
About Outback Presents
Outback Presents is the leading independent, full-service promoter of live entertainment in North America. Headquartered in Nashville, TN, it specializes in producing comedy, festivals, and music, with an emphasis on providing award-winning best in class service to a diverse roster of clients. For more information, please visit Outback Presents Home.
CONTACTS:
Investor Relations
Kristina Oberg
kristina@ravencm.com
(845) 709-9797
Media Relations
Kelly McAndrew
Financial Profiles
KMcandrew@finprofiles.com
(203) 613-1552
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