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.
SVB Financial Group entered into a definitive purchase agreement with the management team bidder group led by Jeff Leerink, SVB Securities' Chief Executive Officer and Founder, and backed by funds managed by The Baupost Group L.L.C., for the sale of its investment banking business, SVB Securities. A hearing to seek required court approval is.
/PRNewswire/ SVB Financial Group (Pink Sheets: SIVBQ) today announced that it has entered into a definitive purchase agreement with the management team.