The failure of Silicon Valley Bank, Signature Bank, and prospectively others, have real debilitating effects upon the financial condition of institutions in the U.S., and abroad.
For example, at least 26 public pension funds (which manage money for 80 pension plans), had invested about $250 million in the stock of SVB Financial Global, the holding company of the Silicon Valley Bank, which collapsed March 10.
The ten largest pension fund holdings in SVB, and the amounts, as of January-March 2023, according to Anthony Randazzo, executive director of Equable Institute, are:
1. Ohio State Teachers’ Retirement System, $39.3 mn
2. California Public Employees’ Retirement Fund, $29.8 mn
3. Colorado Public Employees Retirement Association, $27 mn
4. New York State Common Fund, $26.5 mn
