CANADA - BTG Pactual has sold a $1.8bn stake to a group of international investors including the Ontario Teachers' Pension Plan (OTPP).
Brazilian investment bank BTG has signed an agreement committing an 18.65% stake in the company. The transaction will provide BTG with shareholder equity of approximately $4.3bn after completion.
Investors involved included the Government of Singapore Investment Corporation, China Investment Corporation, OTPP Board and the Abu Dhabi Investment Council.
BTG chief executive officer and partner Andre Esteves said: "The capital increase, from this highly respected group of investors, will allow us to consolidate our position as a leading emerging market-based investment bank and asset manager. The enhanced capital resources and unrivaled reach, knowledge and insight of our new strategic investors, combined with the existing capabilities and the unique culture of BTG Pactual, will strongly benefit our clients."
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