SVB Financial to sell investment platform business SVB Capital By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 03 2024
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Source: Investing.com
- SVB Financial Group Acquisition: An entity affiliated with Pinegrove Capital Partners will acquire SVB Financial Group's investment platform business, SVB Capital.
- Buyer Details: Pinegrove Capital Partners, backed by permanent capital from Brookfield and Sequoia Heritage, will purchase SVB Capital for a combination of cash and other economic considerations.
- Bankruptcy Court Approval: SVB Financial is seeking approval from a bankruptcy court for the acquisition and has requested a hearing on June 5.
- Transaction Support: The acquisition is supported by SVB Financial's key creditor groups and is subject to regulatory approval and other customary closing conditions.
- Operational Independence: Under the agreement, Pinegrove and SVB Capital will operate independently, each led by their existing management teams.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
