Heat oven to 350°F. Lightly grease 12-cup fluted tube pan with shortening or cooking spray. In large -storage plastic food bag, mix granulated sugar and cinnamon.
Separate dough into 16 biscuits; cut each into quarters. Shake in bag to coat. Arrange in pan, adding walnuts and raisins among the biscuit pieces.
In small bowl, mix brown sugar and butter; pour over biscuit pieces.
Bake 30 to 35 minutes or until golden brown and no longer doughy in center. Cool in pan 10 minutes. Turn upside down onto serving plate; pull apart to serve. Serve warm.