BTG Buys Family Office in Rio From Hedge Fund Founder Jakurski

Banco BTG Pactual SA agreed to buy a Rio de Janeiro-based family office as part of its effort to become the biggest private banking firm in Latin America.

BTG is acquiring the wealth management unit of JGP Asset Management, which has 18 billion reais ($3.1 billion) of assets, said Rogerio Pessoa, the head of wealth management at BTG. The price of the deal was not disclosed.

With the acquisition, Sao Paulo-based BTG’s family office business will manage about 120 billion reais, he said in an interview.

JGP was co-founded in 1998 by Andre Roberto Jakurski. He will chair ...