BTG Pactual Shares Lose Half Their Value Since Esteves's Arrest
- Bank's benchmark overseas bonds plunge to fresh record low
- BTG's efforts to boost liquidity haven't soothed investors
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Grupo BTG Pactual SA extended its slide since billionaire founder Andre Esteves was jailed to 52 percent as the bank’s push to bolster liquidity failed to ease investor concern that it won’t be able to withstand the crisis.
Data released late Monday showed investors picked up the pace of withdrawals from some of BTG’s fixed-income funds in recent days. Meanwhile, a U.S. affiliate of the bank was dropped as subadviser to a pair of alternative mutual funds run by Blackstone Group LP.