Aschenbrenner Tried to Sell Private Stakes Before Citadel Deal

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessAschenbrenner Tried to Sell Private Stakes Before Citadel DealSituational Awareness tried selling some of its stakes in privately held companies as it rushed to raise cash to meet a barrage of margin calls from its lenders this week.Author of the article:Hema Parmar and Natasha Mascarenhas You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Situational Awareness tried selling some of its stakes in privately held companies as it rushed to raise cash to meet a barrage of margin calls from its lenders this week. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountVenture capital firms Sequoia Capital and Greenoaks were among those approached by the embattled hedge fund about taking over some of the positions, according to people familiar with the matter. Situational Awareness opted not to go through with any sale after it reached a separate deal with Citadel to offload the bulk of its public equity portfolio, the people said, asking not to be named discussing non-public information. Representatives for Sequoia, Greenoaks and Situational Awareness declined to comment. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againFounded by Leopold Aschenbrenner, Situational Awareness has been an investor in companies tied to the AI boom, including Bloom Energy Corp., semiconductor maker Sandisk Corp. and cloud service provider CoreWeave Inc. The fledging firm has watched its assets plunge from $45 billion at the start of July to about $10 billion as AI stocks have been hit in recent weeks amid questions about whether their high valuations can be sustained. In addition to its public equity portfolio, Situational Awareness has also backed some prominent privately-held companies in the space, including a more than $5 billion stake in Anthropic as well as FluidStack and MatX. With Sequoia Capital and Greenoaks, Aschenbrenner was turning to two of Silicon Valley’s most prominent investors, both of whom already have stakes in Anthropic. Sequoia Capital is one of the country’s biggest venture capital funds. The firm had more than $80 billion in assets under management as of earlier this month, according to a securities filing.Greenoaks, meanwhile, has about $25 billion in assets. Aschenbrenner is well known in Silicon Valley as an AI researcher who raised alarm bells about the risks of the tech race and how fast the changes could occur, according to a 2024 note he titled, Situational Awareness. He started the investment firm in 2024.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.