Tuesday, 28 July 2015
Last updated 8 hours ago
Mar 13 2009 | 1:05am ET
The Brazilian firm that bought Lehman Brothers’ operations in that country has added a British hedge fund manager to its stable.
BTG Investments announced the acquisition of Lentikia Capital, which runs a US$700 million macro fund. The Brocade Fund returned 19% in 2007 and 7.4% last year, when the average hedge fund fell by double digits.
Terms of the deal were not disclosed. The acquisition, BTG’s second, requires the approval of the U.K. Financial Services Authority.
Lentikia CEO Patrice de Camaret will remain with the firm following the acquisition, São Paolo-based BTG said. The deal will give the Brocade Fund “access to the rang of BTG’s resources, including the company’s broad expertise in the markets for fixed-income, credit and debt,” it said in a statement.
BTG was founded last year by former UBS fixed-income, currencies and commodities chief Andre Esteves and Persio Arida, the former president of the Brazilian Central Bank. In October, the firm made its debut, buying the operations and assets of bankrupt investment bank Lehman Brothers in Brazil.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…