SVB agrees to sell its VC arm SVB Capital, which manages ~$9.8B in assets, to a new entity backed by Brookfield and Sequoia Heritage for $340M in cash
SVB agrees to sell its VC arm SVB Capital, which manages ~$9.8B in assets, to a new entity backed by Brookfield and Sequoia Heritage for $340M in cash
- SVB Capital wasn't included in the sale of SVB's lending and wealth management units to North Carolina-based bank First Citizens …
The FDIC and California regulators say JPMorgan Chase plans to acquire most of First Republic; the bank, which is slightly bigger than SVB, had $100B+ outflows
Depositors protected but shareholders wiped out in country's second-largest bank failure — JPMorgan Chase is to acquire …
New York-based grocery e-commerce company Boxed files for Chapter 11 bankruptcy protection; Boxed had said it held most of its cash and liquid assets at SVB
Bloomberg :
The FDIC plans to break up SVB and hold an auction for its traditional deposits unit and another for its private bank, after failing to find a buyer last week
The FDIC says it will break up SVB and hold two auctions for its traditional deposits unit and its private bank, after failing to find a buyer last week
The Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank (SVB) and hold two separate auctions …
Sources: five days after seizing SVB, the FDIC has conducted a stop-and-start auction process, failing so far to find a willing buyer for all of SVB's assets
Big rivals are thus far shying away from scooping up the bank's assets. — Five days after seizing control of Silicon Valley Bank …
HSBC acquires Silicon Valley Bank's UK arm for £1, citing “strategic sense for our business”; as of March 10, SVB UK had ~£5.5B in loans and ~£6.7B in deposits
Sale Facilitated by Government, Bank of England Tweets: Jeremy Hunt / @jeremy_hunt : This morning, the Government and the Bank of England facilitated a private sale of Silicon Valley Bank UK to HSBC D...
Sources: the FDIC is planning another SVB auction, after failing to find a suitor on March 12; at least one offer had been made, which was rejected by the FDIC
Auction comes after failed attempt to find suitor on Sunday — The Collapse of Silicon Valley Bank: What You Need to Know
Sources: JPMorgan, PNC, Apollo, and Morgan Stanley are in talks to acquire SVB Financial Group, excluding SVB; interest in SVB cooled after the US backstop
Michael Flaherty / Axios :