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A newly-created entity, backed by permanent capital from Brookfield and Sequoia Heritage, will buy SVB Capital for a combination of cash and other economic considerations, SVB Financial said. SVB Financial is seeking approval from a bankruptcy court and has requested a hearing on June 5. SVB Capital manages about $10 billion in investments on behalf of about 750 limited partner investors, such as public pensions, that have contributed capital to the investment fund, according to court documents.

United statesSavio dsouzaMrigank dhaniwalaAbinaya vijayaraghavanPacific investment management companyFinancial groupSilicon valley bankPinegrove capital partnersSequoia heritageAmerica securitiesKing street capitalSaviod souza