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Abrdn, Ares, Sequoia among over 5,900 private funds that used Silicon Valley Bank as a custodian

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A host of finance titans including Abrdn, Ares Management and Sequoia had funds worth billions of dollars where Silicon Valley Bank was acting as custodian before it failed, Financial News can reveal.The firms are among the biggest investment names to show up in a list of some 5,900 private funds using SVB as a custodian, which could have taken a hit had SVB not secured a government guarantee in the US and executed a private sale in the UK when it collapsed.FTSE...

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