SVB Financial Group Enters into Definitive Agreement for the Sale of SVB Capital
Brookfield Asset Management Inc Class A Limited Voting Shares (BAM)
US:NYSE Investor Relations:
bam.brookfield.com/en
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Source: PR Newswire
Pinegrove Affiliate to Acquire SVB CapitalSVB Capital and Pinegrove to Operate Independently with Common Sponsorship and Shared Mission to Serve the Venture EcosystemSAN FRANCISCO, May 2, 2024 /PRNewswire/ -- SVB Financial Group (Pink Sheets: SIVBQ) today announced that it has entered into a definitive agreement under which a newly created entity affiliated with Pinegrove Capital Partners ("Pinegrove") and backed by permanent capital from Brookfield Asset Management ("Brookfield") and Sequoia Heritage, will acquire the Company's investment platform business, SVB Capital. Under the terms of the agreement, SVB Capital would be acquired for a combination of cash and other economic consideration.Pinegrove is a capital solutions partner for the venture capital ecosystem. Pinegrove provides customized and scalable secondary liquidity solutions for general partners and limited partners with a focus on investing in leading mid-to-late-stage private technology companies.As part of this differe
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