BTG Pactual aims high as global macro/EM fund races to $1.5bn

Wed Jan 26, 2011

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Brazil-based investment bank and asset manager BTG Pactual is well-positioned to exploit the big changes that are underway in the global economy and the world financial order. And the group’s flagship hedge fund strategy has made a spectacular start in its first two years of trading

Few financial institutions illustrate more graphically the sweeping changes taking place in the global economy and the world financial order than BTG Pactual, the fast-growing Brazil-headquartered international investment bank and asset manager led by former UBS global fixed-income chief Andre Esteves.

The group is on a meteoric growth path – and its story is already a dramatic one. Back in 2006, Esteves – who was then the managing partner and 30% owner of Pactual, which at that point was solely a Brazilian bank (albeit already the country’s leading investment bank and wealth manager) – sold Pactual to UBS in a $3 billion deal that also saw him take charge of the Swiss bank’s fixed-income business.

Two years later he left UBS – along with some 15 of his top lieutenants – to set up the new BTG asset management group in mid-2008. One year later he bought back Pactual from the...

ISSN: 2151-1845 / CDC10004H

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