| Grupo BTG Pactual, Brazil’s only publicly traded independent investment bank, is partnering with shareholder Abu Dhabi Investment Council to expand its reinsurance business, said Chief Executive Officer Andre Esteves.
BTG and the sovereign fund will each take a 50 percent stake in Ariel Re, the reinsurance unit that BTG has said it’s acquiring from Global Atlantic Financial Group Ltd., Esteves said in an interview. BTG announced the acquisition of Ariel Re on July 10, without disclosing its partner or financial terms. Abu Dhabi Investment Council bought a stake in BTG in December 2010, before BTG’s initial public offering in 2012, Esteves said...............................................Full Article: Source
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