This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ2D0EB_L.jpg
Last week, Californian regulators shut down tech lender SVB after a failed share sale that saw $42 billion of deposit outflows in a day and escalated worries of a contagion across financial markets.
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, citing people familiar with the matter.
Last week, the startup-focused lender failed to raise equity to plug a $1.8 billion hole, after it sold $21 billion worth available-for-sale securities at a loss as rising Treasury yields eroded its value.
Apollo, Blackstone, and SVB did not immediately respond to Reuters’ requests for comment.
