Thaw puff pastry at room temperature 30 min. Preheat oven to 375º. Mix egg and water and set aside. Mix sugar, flour and cinnamon. Slice the apples thinly and add to cinnamon mix with raisins, toss to coat and set aside.
Unfold pastry on a lightly floured surface. Roll into 16x12” rectangle. With short side facing you, spoon apple mixture on bottom half of pastry to within 1” of edges. Starting at short side, roll up jelly roll style. Place seam side down on baking sheet. Tuck ends under to seal. Brush with egg mixture. Cut several 2” long slits 2” apart on top.
Bake 25 min or until golden. Cool on baking sheet on wire rack. Sprinkle with confectioners sugar before serving.