(Bloomberg) -- Silicon Valley Bank had just collapsed and Blackstone Inc.’s dealmakers saw an opportunity. One problem: The firm didn’t want to look like a vulture. Most Read from Bloomberg Google and Amazon Struggle to Lay Off Workers in Europe China Restraint on Taiwan Shows Xi Has Bigger Concerns Now Tesla Cuts Prices of All Models for the Second Time This Year Nassim Taleb On What Bitcoiners, Anti-Vaxxers, VCs and Deadlifters Are Getting Wrong In a deal that ultimately didn’t go through,...

Lion Capital LLP partner Matt Nordby is leaving his full-time post at the private equity firm to form Flume Ventures, which plans to invest in enterprise technology companies, according to people with knowledge of the matter. Incline Village, Nevada-based Flume plans to invest a portion of profits in the state to help develop the region’s technology hub, said one of the people, all of whom requested anonymity. Verishop Chief Executive Officer Imran Khan, who has held senior roles at Snap...

Bank of America Corp. named Jill Schwartz co-head of global financial sponsors, replacing Kevin Sherlock. Schwartz will also keep her role as executive vice chair of global corporate and investment banking, according to a memo to staff from Thomas Sheehan, the lender’s head of global investment banking. New York-based Schwartz will co-head the group, which advises on private equity deals such as leveraged buyouts and initial public offerings, alongside Saba Nazar. A Bank of America spokesman...

Moelis & Co. hired Jason Auerbach, global co-head of investment banking at SVB Securities, according to people with knowledge of the matter. Auerbach’s resignation was communicated to SVB staff on Monday by SVB Securities Chief Executive Officer Jeff Leerink, said one of the people, all of whom asked not to be identified discussing confidential information. Representatives for SVB Securities and New York-based Moelis declined to comment. Auerbach was also global head of technology investment...

(Bloomberg) -- Cerberus Capital Management is launching its first dedicated private equity fund as investors pour cash into the asset class. The New York-based firm is seeking about $3 billion for the fund, according to people with knowledge of the matter, who asked not to be identified because the information isn’t public. The firm has already secured some commitments from investors, the people said. The effort marks a departure for Cerberus, which has historically invested in private equity...