In light of the recent events with Silicon Valley Bank (SVB) and Signature Bank (SBNY), we wanted to update our investors and partners on our current capital management and overall business approach.
As developments unfold, the PPR team has been closely monitoring the situation and any potential impacts. In our spirit of “Investors First” and transparency, we want you to know that PPR has no direct relationship or exposure to either Silicon Valley Bank or Signature Bank and we continue to operate in a “business as usual” manner. And in regards to current events, it is important to note:
- Neither PPR Capital Management nor its Affiliates maintain a depository or lending relationship with SVB or SBNY.
- Our business model relies on deploying investor capital in an expeditious manner, so our focus is on minimizing depository balances.
- Our primary depository relationship is with a large money center bank, and our banking relationships are diversified across our portfolio.
We appreciate your partnership and confidence in PPR Capital Management. As part of our business model, we routinely monitor changing conditions in the economy, and we will continue to do so as circumstances in the banking industry evolve and will be sure to update if necessary.
In the meantime, if you have any questions at all you can schedule a call with our Investor Relations Department here: