Alternative asset management firms blackstone and apolloglobal are said to be considering acquiring assets of Silicon Valley Bank. By JamieCrawleyCD
Blackstone and Apollo are looking to purchase a book of loans held by SVB, according to the report, which cited people with knowledge of the matter.at the end of last week, with the Federal Deposit Insurance Corp. named as its receiver.
The tech and venture capital-focused bank collapsed last week following a $42 billion bank run after announcing plans to sell $2.24 billion in new shares. The proposed sale was meant to compensate for a $1.8 billion loss on the sale of $21 billion worth of its portfolio's securities. The collapse, the biggest of a U.S. bank since Washington Mutual's in 2008, was sandwiched in between the implosions of crypto-friendly banks
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