Private equity firms Apollo and KKR among those reviewing Silicon Valley Bank loans

People wait outside Silicon Valley Bank headquarters in Santa Clara, CA, to withdraw money after the federal government intervened in the bank’s collapse, on March 13, 2023.

Nikolas Liepins | Anadolu Agency | Getty Images

Private equity firms Apollo Global Management and KKR are among the parties reviewing a book of loans from Silicon Valley Bank, people familiar with the discussions told CNBC.

Two of those people said that Apollo may be interested in acquiring a share of the company at par. However, one of the sources said it is unclear how the Federal Deposit Insurance Corp. intends to go further, as the regulator may prefer a single buyer for the assets.

The people CNBC spoke to asked for anonymity because they were not authorized to share confidential details about the discussions.

Bloomberg previously reported that several private equity firms have performed due diligence on the loan assets. That report, which cited several people with knowledge of the talks, said Apollo, Ares Management, Blackstone, Carlyle Group and KKR were among those assessing a possible deal.

Ares and KKR declined to comment on the report. Blackstone and Carlyle were not immediately available for comment.

The FDIC seized control of the technology-focused SVB on Friday. The agency held an auction last weekend, but no buyer could be found. That prompted the regulator to create a bridge bank, which now houses the California-based bank’s deposits. On Sunday, a plan was devised to give SVB savers a backstop to prevent further panic in the financial system.

—Christina Cheddar Berk of CNBC contributed to this report.


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