Pinegrove Affiliate to Acquire SVB Capital
SVB Capital and Pinegrove to Operate Independently with Common Sponsorship and Shared Mission to Serve the Venture Ecosystem
SAN FRANCISCO, May 2, 2024.
SVB Financial Group entered into a definitive agreement under which a newly created entity affiliated with Pinegrove Capital Partners ("Pinegrove") and backed by permanent capital from Brookfield Asset Management ("Brookfield") and Sequoia Heritage, will acquire the Company's investment platform business, SVB Capital. Under the terms of the.