Private equity firms Apollo and KKR among those reviewing Silicon Valley Bank loans
Publishing timestamp: 2023-03-14 17:38:29
Summary
Private equity firms, including Apollo Global Management and KKR, are reviewing the book of loans held by Silicon Valley Bank (SVB). It is unclear how the Federal Deposit Insurance Corporation (FDIC) plans to proceed since the regulator may prefer a single buyer for the assets. Blackstone and Carlyle Group are also among those participating in the process, which is still at an early stage. FDIC seized control of SVB on Friday and held an auction over the weekend, which failed to find a buyer. The regulator then created a bridge bank to house SVB's deposits and devised a plan to backstop SVB's depositors to prevent further panic in the financial system.
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Tickers: BX, KKR, CG, ARES, SIVB, APO,
Keywords: apollo global management inc, svb financial group, kkr & co inc, business news, blackstone inc, ares management corp, carlyle group inc, business, investment strategy, banks, markets, mergers and acquisitions,