Combine raisins and bourbon, stirring well. Cover and refrigerate at least 1 hour. Cream butter; gradually add sugar, beating well at med. speed with an electric mixer. Add eggs, one at a time, beating well after each addition.
Combine flour, baking powder,soda, and nutmeg; add to creamed mixture alternately with buttermilk, beginning and ending with flour mixture. Mix after each addition. Fold in pecans and raisin mixture.
Pour batter into a greased and floured 10 inch tube pan. Bake at 325F for 1 hour and 30 minutes or until wooden pick comes out clean. Cool in pan 10 minutes; remove from pan, place on serving plate. Drizzle with Brown Sugar Glaze. Cool completely.
Brown Sugar Glaze: Combine all ingredients in a heavy saucepan; bring to a boil and cook, stirring occasionally, 2 minutes. Let cool to lukewarm.