From Taighde
Banco BTG Pactual is an investment bank based in Brazil.
Three sovereign wealth funds have been reported to have joined a consortium of nine funds to inject a $1.8 billion in new capital. The China Investment Corporation, Government of Singapore Investment Corporation, and the Abu Dhabi Investment Council are all part of this consortium. The consortium will control 18% of the fund. The five lead investors, which the three SWFs are part, have agreed to inject between $200 million and $300 million. The other two lead investors are Ontario Teachers’ Pension Plan and JC Flowers.
Before the announcement, the Wall Street Journal reported that the Government of Singapore Investment Corporation was in advance talks with the bank for a $2.4 billion investment. Another story by a Brazilian newspaper wrote that BTG was in talks with several SWFs for a $1.5 billion investment. In a Reuters report on Nov 30, the GIC was to join with JC Flowers to purchased a 15% stake for around $1.5 billion.
