BTG Funds' Net Withdrawals Reach $2 Billion Since Esteves Arrest
- Amount represents about 60% of net assets from 10 funds
- BTG Pactual's bonds, shares resume decline in Sao Paulo
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Clients continued to pull money from some of Grupo BTG Pactual SA’s fixed-income funds, bringing net withdrawals since billionaire founder Andre Esteves was arrested last month to 60 percent of net assets.
Investors pulled 882 million reais ($234 million) Thursday and Friday from the 10 fixed-income funds listed on BTG’s website, according to the latest available data compiled by Bloomberg. Clients have taken out a net 7.6 billion reais since Esteves was jailed Nov. 25.