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.
