Source: The Canadian Press

The Ontario Teachers’ Pension Plan Board is part of an international investment group that’s agreed to pay US$1.8 billion to buy an 18.65% stake in BTG Pactual, a Brazilian investment bank and money manager.

The amounted being invested by Teachers’ was not announced.

Its partners include the Government of Singapore Investment Corp., China Investment Corp., Abu Dhabi Investment Council, JC Flowers and Co., RIT Capital Partners and Lord Rothschild’s family interests, the Santo Domingo Group, EXOR, the investment company controlled by the Agnelli family, and the Motta family.

“The capital increase, from this highly respected group of investors, will allow us to consolidate our position as a leading emerging market-based investment bank and asset manager,” BTG Pactual chief executive Andre Esteves said in a statement Monday.

The cash will be invested in BTG Pactual’s core investment banking, asset management and wealth management businesses in Brazil and internationally.

BTG Pactual has roughly 1,100 employees and offices around the world.

Teachers’ is one of Canada’s largest pension fund managers with roughly $100 billion in assets including its Cadillac Fairview real estate subsidiary as well as public and private equity investments around the globe.

“This is just a reflection of how international our holdings are now and the fact that we do look all over the world for opportunities,” Teachers’ spokeswoman Deborah Allan said of the investment announced Monday.

Last month, Teachers’ told its entire 25% stake in the Canadian food processor and bakery Maple Leaf Foods (TSX:MFI) for just under $362.4 million, a 17% discount to the market price prior to the announcement.