REG - RIT Cap. Partners - Update on Silicon Valley Bank

RIT Capital PartnersAnnouncement

13/03/2023 13:00

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RNS Number : 7822S  RIT Capital Partners PLC  13 March 2023

 

 

RIT CAPITAL PARTNERS PLC (LEI: P31Q1NLTW35JJGHA4667)

 

13 March 2023

 

Update on Silicon Valley Bank

 

RIT Capital Partners plc ("RIT") has no direct exposure to Silicon Valley Bank
("SVB") in either the US or UK, nor to any of SVB's affiliate entities.

 

RIT has been in touch with the substantial majority of our third-party
managers and portfolio company partners over the last few days. The vast
majority of RIT's holdings have confirmed either no or de minimis exposure to
SVB, while for the remainder a substantial portion of any funds is held in
money market accounts custodied with a third-party bank, and therefore
ringfenced from SVB. Shareholders will also note the recent announcements from
policymakers in the US and UK regarding outstanding deposits at SVB and its
affiliates. We are continuing to monitor the situation closely.

 

 

 

 

 

 

 

 

 

 

 

 

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