SVB Financial to Sell Investment Platform Business SVB Capital usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
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.
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 has entered into a definitive agreement to sell its investment platform business, SVB Capital. The buyer is a newly created entity…