Pinegrove to Acquire Investment Platform Business SVB Capital

Paul, Weiss is advising Pinegrove Capital Partners, a capital solutions partner for the venture capital ecosystem, in its newly created affiliate entity's acquisition of SVB Financial Group's investment platform business SVB Capital, an investment partner to leading venture capital firms and technology companies. Under the deal announced on May 2, SVB Capital will be acquired for a combination of cash and other economic consideration, subject to U.S. Bankruptcy Court and regulatory approvals and other customary closing conditions.

As part of the deal, Pinegrove and SVB Capital will operate independently, each led by their existing management teams, with the common long-term financial backing of Brookfield and Sequoia Heritage and an aligned focus on providing flexible and innovative capital solutions to their trusted clients.

The Paul, Weiss team is led by corporate partners Neil Goldman, Robert Tananbaum and Kenneth Schneider and restructuring partner Andrew Parlen, and includes corporate counsel Usman Arain, Scott Balterman, Arik Hirschfeld, Todd Hahn and Nathan Mitchell; tax partner Lindsay Parks and counsel Patrick Karsnitz; intellectual property partner Charles Googe; executive compensation partner Lawrence Witdorchic and counsel Sasha Belinkie and Jacob Glazeski; litigation counsel Steven Herzog; and antitrust counsel Chad de Souza and Marta Kelly.