Apollo Global Management, Blackstone and KKR & Co have expressed interest in a book of loans held by Silicon Valley Bank, Bloomberg News reported today, citing people familiar with the matter.
The loan portfolio is seen as an attractive buy and was not a contributing factor in the bank run that caused SVB's demise, the report said.
The development follows the tech lender's failure last week to raise equity to plug a $1.8 billion hole after selling its $21 billion portfolio of securities at a loss.
That led to $42 billion of deposit outflows in a day and escalating worries of a contagion across financial markets, with Californian regulators later shutting down SVB - a subsidiary of the defunct SVB Financial Services Group.
SVB said yesterday it was planning to explore strategic alternatives for its businesses, including the holding company, SVB Capital, and SVB Securities.
The bank also named restructuring veteran William Kosturos as its chief restructuring officer.
Previously, he was the restructuring chief for Washington Mutual, which collapsed during the global financial crisis in 2008 in what was the biggest bank failure in US history.
Apollo and KKR declined to comment, while Blackstone and SVB did not immediately respond to requests for comment.
