Blackstone Group Inc. BX and Apollo Global Management Inc. APO are interested in buying all or part of the loan portfolio of SVB Financial’s SIVB Silicon Valley Bank, Bloomberg reported late Monday. The two private equity firms are taking aim at the bank’s $74 billion in loans as of Dec. 31 after the Federal Deposit Insurance Corp. took over the bank last week after a run on deposits. Citing people familiar with the situation, the news service said the loan portfolio is seen as an attractive asset that did not contribute to the run on the bank. Spokespeople for Apollo and Blackstone did not comment, according to the report.
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