Raphael Ray Newman

Raphael (Ray)


Managing Director and Global Head of Transaction Advisory Services

Raphael “Ray” Newman is a managing director and leader of the Transaction Advisory Services practice, based in the New York office. He leverages over 30 years of transaction experience advising private equity, hedge funds and strategic buyers.


Raphael Newman
Learn how Raphael ("Ray") Newman built the Transaction Advisory Services practice into a global business, his passion for family time, and how Kroll lifts the fog surrounding deals.

Prior to joining the firm, Ray served as a partner in Arthur Andersen’s Transaction Advisory Services practice. Before that, he held the title of director of worldwide accounting and finance for Home Box Office. Earlier in his career he was a manager at Viacom and he started his career at Deloitte & Touche.

Ray has led numerous transactions with an aggregate value of more than $100 billion. He advises his clients in a wide array of industries, including manufacturing, distribution, transportation, retail, healthcare, technology, printing, publishing, automotive, logistics media and entertainment services. Ray has also acted as an advisor to his clients on U.S. Securities and Exchange Commission (SEC) matters, provided expert witness testimony on technical accounting matters and has been an arbitrator on purchase price and other accounting disputes.

Ray received an MBA in finance and international business with a sub-concentration in marketing from New York University’s Stern School of Business. He also holds a B.S. in accounting from Yeshiva University’s Syms School of Business. He is a Certified Public Accountant licensed in New York. Ray is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants. He also holds FINRA Series 63 and 79 licenses.

Performing an Urgent Sell-side Quality of Earnings Analysis

Kroll Transaction Advisory Services

Discover how Kroll’s Transaction Advisory Services Team helped a manufacturing client sell their business at a premium through developing a modernization strategy to enhance their operations.

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Corporate Finance and Restructuring

M&A advisory, restructuring and insolvency, debt advisory, strategic alternatives, transaction diligence and independent financial opinions.

Transaction Advisory Services

Kroll’s Transaction Advisory Services platform offers corporate and financial investors with deep accounting and technical expertise, commercial knowledge, industry insight and seamless analytical services throughout the deal continuum.

Financial Due Diligence

Kroll's Financial Due Diligence team provides Quality of Earnings (QoE) and key financial analyses for buyers, sellers and banks in M&A transactions.

Sell-Side M&A/Vendor Due Diligence

We unlock hidden value as our clients sell or carve-out a non-core business.

Working Capital Analysis

Balance sheet analysis to establish target working capital and evaluate balances delivered at closing.

Tax Due Diligence/Structuring

Kroll's tax due diligence and structuring group has extensive experience in evaluating and structuring transactions from a tax perspective.

Strategy and Commercial Diligence

Strategic perspectives on the target’s market and competitive environment, as well as deeper insights and data on value creation opportunities.

Comprehensive Due Diligence Solution

Our Comprehensive Due Diligence solution helps clients minimize risks and make the most informed business decisions. We support in the areas of tax, compliance and regulatory, ESG, operations/strategy, M&A, financial and accounting, investigations, disputes and cyber/IT risk.

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