SVB Financial Group has entered into a definitive merger agreement to acquire Boston Private in a transaction valued at approximately $900 million. The combined company would have approximately $17.7 billion of assets under management.
SVB, through its bank subsidiary Silicon Valley Bank, offers commercial and private banking, asset management, private wealth management, brokerage and investment services and funds management services to companies in the technology, life science and healthcare, private equity and venture capital, and premium wine industries. The acquisition of Boston Private is intended to accelerate the growth of SVB’s private bank and wealth management offering.
The S&C team representing SVB includes Rodge Cohen, Jared Fishman and associates Jordan Wish and Irene Kim. Special counsel Regina Readling and associates Jenny Cha and Elizabeth Mellgard are advising on executive compensation and benefits matters. Rick Wertheim, Whitney Chatterjee, special counsel Eric Diamond and associate Ken Li are advising on investment advisor matters. S&C is advising on tax matters. Nader Mousavi and associates Matt Rosenberg and Elizabeth Cheung are advising on intellectual property matters. Joe Matelis and special counsel Eric Queen are advising on competition matters.
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