We Partner With Exceptional People To Build Transformative Businesses
For more than three decades, Rafferty Holdings has forged a legacy of success across multiple industries built upon enduring partnerships, deep industry expertise, and disciplined execution.
Our History
Founded in 1987 by Larry Rafferty and Tim Cohane, Rafferty Holdings began as Cohane Rafferty Securities. Over the ensuing decades, the firm expanded into a diversified holding company across financial services, asset management, real estate, technology and growth sectors. Building businesses is in our DNA.
Key milestones include the establishment of Rafferty Capital Markets, growth of the Potomac Funds (later branded Direxion), and diversification into equity sales, market making, and mutual fund distribution. The 2000s and 2010s saw continued expansion with acquisitions such as municipal bond broker JJ Kenny Drake and launches of levered ETF platforms.
In 2011, the firm’s fixed income brokerage business was acquired by Tradeweb, enabling Rafferty Holdings to sharpen focus on new opportunities. Throughout the 2010s and early 2020s, the firm deepened its asset management capabilities with Hilton Capital Management surpassing $3 billion AUM and Direxion ETFs growing over $55 billion in assets.
More recently, Rafferty Holdings has established Raff Ventures in an effort to embrace early-stage investments with strategic stakes in fintech, AI, digital services and diversified consumer companies. The creation of Rafferty Real Estate marks further diversification into opportunistic real estate investments.
Rafferty Holdings combines disciplined capital allocation with operational expertise to build enduring businesses. Our evolution reflects a patient, long-term approach rooted in partnership, innovation, and excellence.