BTG to Triple European Real Estate Investments to €1 Billion
- Bank manages funds with €320 million invested in Portugal
- Wealth-management unit considers opening an office in Italy
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Banco BTG Pactual SA, the biggest independent investment bank in Latin America, plans to more than triple its real estate investments in Europe to about €1 billion ($1.1 billion) in coming years.
The Brazilian bank, which has almost €6 billion in wealth under management in Europe, has raised funds in recent years to purchase historic hotels in Portugal, where it’s also building a portfolio of shopping malls as part of a strategy to revamp and sell them over a five-year horizon.