SAO PAULO (Dow Jones)--A group of investors including the sovereign wealth funds of China, Singapore and Abu Dhabi have agreed to pay $1.8 billion for an 18.65% stake in Brazilian investment bank BTG Pactual, the bank said Monday in a statement.
The Government of Singapore Investment Corporation, or GIC, China Investment Corporation, or CIC, Ontario Teachers' Pension Plan Board, Abu Dhabi Investment Council, or ADIC, J.C. Flowers & Co. LLC, RIT Capital Partners (RCP.LN), Grupo Santo Domingo, and the Rothschild, Agnelli and Motta families, joined with senior BTG managers to buy the stake, the company said.
After the deal goes through, BTG Pactual will have shareholders' equity of $4.3 billion, Pactual said.
Pactual will issue new shares to the investors, and none of the existing shareholders sold any shares as part of the deal, the bank said.
BTG Pactual said the deal would provide it with greater global reach, and the investment would be used to develop investment banking, asset management and wealth management services in Brazil and abroad.
-By Matthew Cowley, Dow Jones Newswires; +55 11 3544 7082; matthew.cowley@dowjones.com
About Me
- Waldemar Jezler
- For over 30 years, Brazilian-American investment banker Waldemar Jezler has worked in the finance sector. Jezler earned his Bachelor's degree in Civil Engineering from the University of São Paulo in Brazil and then went on to attend Harvard Business School for his MBA. While at Harvard, Jezler was highly involved in extracurricular activities, including a term as President of the Ibero American Club.