Apollo, Blackstone and KKR evaluating Silicon Valley Bank loan assets - report
Mar. 14, 2023 9:55 AM ETSVB Financial Group (SIVBQ)BX, KKR, APOBy: Joshua Fineman, SA News Editor31 Comments
Justin Sullivan
- Apollo Global (APO), Blackstone (BX) and KKR (KKR) are looking at purchasing loans held by Silicon Valley Bank in the wake of its collapse.
- The defunct bank had $73.6 billion of loans as of end of last year. The size of loan book that Apollo (APO) and Blackstone (BX) are interested in wasn't immediately known, according to a Bloomberg report, which cited people familiar.
- Silicon Valley Bank's loan portfolio is viewed as an attractive asset and was not a part of what caused the bank to be shut down by the Federal Deposit Insurance Corp. on Friday, Bloomberg said.
- On Monday, the WSJ reported that FDIC is planning to conduct another auction of Silicon Valley Bank assets after they were unable to find a suitor over the weekend.