Make the vinaigrette- Combine 2 cups water, the wine, vinegar, olive oil, fennel seeds, garlic, bay leaf, 1/2 teaspoon salt, and pepper to taste in a deep skillet. Bring to a simmer over medium heat, then add the carrots and reduce the heat to medium low; cover and cook until just tender, 25 to 30 minutes. Transfer the carrots to a bowl using a slotted spoon. Add the raisins to the skillet, increase the heat to medium high and cook until the vinaigrette is reduced to 1 cup, 15 to 20 minutes. Discard the bay leaf, then pour the vinaigrette over the carrots and let cool. Cover and refrigerate at least 2 hours or overnight.
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