Share this article
Asset Managers Blackstone, Apollo Eyeing SVB Assets: Bloomberg
Silicon Valley Bank collapsed last week following a $42 billion bank run after it announced plans to sell $2.24 billion in new shares.
Updated May 9, 2023, 4:10 a.m. Published Mar 14, 2023, 12:30 p.m.
Make us preferred on Google
Blackstone (BX) and Apollo Global Management (APO), two of the world's largest asset managers, are considering acquiring assets of Silicon Valley Bank, Bloomberg reported on Tuesday.
Blackstone and Apollo are looking to purchase a book of loans held by Silicon Valley Bank, according to the report, which cited people with knowledge of the matter.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
New York-based investment manager KKR (KKR) is also reported to be interested.
Silicon Valley Bank's assets were seized by financial regulators at the end of last week, with the Federal Deposit Insurance Corp. named as its receiver.
The tech and venture capital-focused bank fell apart last week following a $42 billion bank run after it announced plans to sell $2.24 billion in new shares. The proposed sale was meant to compensate for a $1.8 billion loss on the sale of $21 billion worth of its portfolio's securities.
The collapse, the biggest of a U.S. bank since Washington Mutual's in 2008, was sandwiched in between the implosions of Silvergate Bank and Signature Bank (SBNY), two banks that focused on crypto.
Blackstone has $880 billion in assets under management, and Apollo $500 billion.
Apollo declined to comment, and neither Blackstone nor KKR responded to requests for comment.
Read more: Circle Scrambles to Right USDC After Signature Bank Failure
UPDATE (March 14, 14:06 UTC): Adds that KKR is also interested and that Apollo has declined to comment.
Higit pang Para sa Iyo
Specialized AI detects 92% of real-world DeFi exploits
New research claims specialized AI dramatically outperforms general-purpose models at detecting exploited DeFi vulnerabilities.
Ano ang dapat malaman:
- A purpose-built AI security agent detected vulnerabilities in 92% of 90 exploited DeFi contracts ($96.8 million in exploit value), compared with 34% and $7.5 million for a baseline GPT-5.1-based coding agent running on the same underlying model.
- The gap came from domain-specific security methodology layered on top of the model, not differences in core AI capability, according to the report.
- The findings come as prior research from Anthropic and OpenAI shows AI agents can execute end-to-end smart contract exploits at low cost, accelerating concerns that offensive AI capabilities are scaling faster than defensive adoption.
Top Stories
