SVB Financial Group completed the sale of its investment platform business, SVB Capital, to affiliates of Pinegrove Capital Partners, backed by evergreen capital from Brookfield Asset Management and Sequoia Heritage.

Under the terms of the agreement, the consideration for the sale included a combination of cash and other economic interests.

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

Centerview Partners LLC is serving as financial advisor, Sullivan & Cromwell LLP is serving as legal counsel and Alvarez & Marsal is serving as the restructuring advisor to SVB Financial Group as debtor-in-possession.