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."
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers