BTG Pactual asset unit raises $860 mln for new fund

May 12, 2015 1:36 PM

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SAO PAULO May 12 Grupo BTG Pactual SA's asset management unit on Tuesday closed fundraising for a new timberland fund, collecting $860 million from investors increasingly interested in forestry assets across Latin America.

The fund, known as BTG Pactual Brazil Timberland Fund I, will invest in timberland, forestry and related assets in the country and other countries in Latin America, according to a statement. Some of the fund's members include large global and Brazilian institutional investment firms.

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