Svb Financial Group ( (SIVBQ) ) has provided an update.
SVB Financial Group has successfully completed the sale of its investment platform, SVB Capital, to a consortium led by Pinegrove Capital Partners, with financial backing from Brookfield Asset Management and Sequoia Heritage. While the sale included a mix of cash and other economic interests, SVB Financial Group’s MoffettNathanson LLC remains with the parent company. This move comes as SVB Financial Group continues to navigate its Chapter 11 bankruptcy proceedings, with the deal’s details available on Kroll’s restructuring website.
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