SVB Financial Group Completes Sale of Investment Banking Business to Management Team Group

SVB Financial Group, a leading financial services company, has successfully completed the sale of its investment banking business, SVB Securities LLC, to a management team bidder group led by Jeff Leerink, the Chief Executive Officer and Founder of Leerink Partners LLC. The sale was approved by the U.S. Bankruptcy Court for the Southern District of New York following a competitive bidding process.

Under the terms of the purchase agreement, the acquisition included a combination of cash, repayment of an intercompany note, assumption of certain liabilities, and a 5% equity instrument in the buyer entity. The management-led buyout was backed by funds managed by The Baupost Group L.L.C, a prominent investment firm.

Notably, MoffettNathanson LLC, a sell-side research business owned by SVB Financial Group, was not included in the transaction and remains part of the company.

SVB Financial Group’s Chapter 11 proceeding details, court filings, and other related information can be accessed through the company’s claims agent, Kroll, via their website or by emailing SVBFGInfo@ra.kroll.com.

Centerview Partners LLC served as the financial advisor, Sullivan & Cromwell LLP as the legal counsel, and Alvarez & Marsal as the restructuring advisor to SVB Financial Group during the bankruptcy process.

SVB Financial Group, the holding company for various financial services companies, including SVB Capital, continues to focus on its core operations and growth opportunities.

This successful sale marks a significant milestone for SVB Financial Group and demonstrates its commitment to strategic decision-making and ensuring the best outcome for its stakeholders.