Jeff Leerink, SVB Securities' CEO and Founder, and The Baupost Group, a hedge fund, completed the acquisition of SVB Securities, the investment banking business of SVB Financial Group, a financial services holding company, for $100m. "This transaction is a significant milestone in SVB Financial Group's strategic alternatives process. The Restructuring Committee and its advisors conducted a disciplined and independent process intended to maximize the value of the business for SVB Financial Group stakeholders. We are confident that the transaction led by the investment bank's current management team will preserve and enhance the value of the business," Bill Kosturos, SVB Financial Group Chief Restructuring Officer.