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.
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Private equity companies Apollo GlobalManagement 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 people said it is unclear how the Federal Deposit Insurance Corporation plans to proceed 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. The people also confirmed that Blackstone and Carlyle Group are part of the process, which is still in its early stages.
Earlier Bloomberg reported that several private equity firms have performed due diligence on the loan assets. That report, which quoted several people with knowledge of the conversations, said Apollo: Ares Management, Black stone, Carly group and KKR were among those assessing a possible deal.
The companies declined to comment on the report.
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.
– CNBC’s Christina Cheddar-Berk contributed to this report.
