- David Tepper has bought bonds of SVB Financial Group, the parent of Silicon Valley Bank.
- The investment is a bet that the value of the debt will rise as parts of the group are auctioned off.
- SVB filed for Chapter 11 bankruptcy protection to make it easier to auction off its broker dealer and a fund management arm.
- Tepper is known for successful investments in troubled financial companies.
- The preferred stock is trading around 10 cents on the dollar.
Billionaire David Tepper makes wager on Silicon Valley Bank debt
Prominent distressed debt investor bets that bonds will recover after group divests businesses
Sujeet Indap
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