Private equity firms Apollo Global Management and KKR are among the parties reviewing a book of loans held by Silicon Valley Bank, people familiar with the discussions told CNBC.
Two of those people said Apollo may be interested in acquiring a piece of the business at par. However, one of the people said it is unclear how the Federal Deposit Insurance Corporation plans to proceed since the regulator may prefer a single buyer for the assets.
The FDIC seized control of tech-focused SVB on Friday. Over the weekend, the agency held an auction, which failed to find a buyer. That prompted the regulator to create a bridge bank, which now houses the California-based bank’s deposits. A plan was then devised Sunday to backstop SVB’s depositors in order to prevent further panic in the financial system.
Read more: CNBC
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