BTG Pactual Expands Wealth Management with JGP Acquisition, Consolidates R$1 Trillion in Assets

BTG Pactual announced on April 14, 2025, that it will acquire 100% of JGP Gestão Patrimonial’s wealth management division, according to a statement sent to the market and reported by CNN Brasil and NeoFeed.

The deal, which still requires approval from the Central Bank of Brazil and other regulators, will add R$18 billion ($3 billion) in assets under management to BTG’s portfolio.

This move comes just months after BTG completed the acquisition of Julius Baer’s Brazilian wealth management business for R$615 million ($104 million), which brought in R$61 billion ($10 billion) in assets.

With the JGP deal, BTG’s family office segment will manage more than R$120 billion ($20 billion) in assets, while its total wealth management division will reach the R$1 trillion ($169 billion) mark.

JGP, founded by André Jakurski in 1998, is one of Brazil’s most established independent asset managers. Jakurski will remain involved, taking the role of chairman of BTG’s family office investment committee.

He will bring his market analysis and experience to BTG, ensuring continuity for clients who have worked with JGP since 2007. The entire JGP wealth management team, including 25 professionals and 12 partners, will join BTG under multi-year retention agreements.

BTG Pactual Targets Wealth Management Consolidation

BTG’s head of wealth management, Rogério Pessoa, said the market is moving toward a model where clients seek a single fee and a holistic view of their assets.

He noted that BTG aims to position itself as a consolidator in the multi-family office space, responding to a sector that has seen rapid consolidation and regulatory changes in recent years.

JGP’s decision to sell its wealth management arm reflects these industry shifts. Jakurski cited the end of closed-end funds and changing investment possibilities as key factors.

After the sale, JGP will focus on its remaining R$27 billion ($5 billion) in assets, primarily in multimarket, equity, real estate, and credit funds. The Julius Baer deal, finalized in March, also highlights BTG’s aggressive expansion.

Julius Baer’s Brazilian unit had seen its assets under management fall from R$80 billion ($14 billion) to R$50 billion ($8 billion) before the sale. The acquisition strengthens BTG’s position in the high-net-worth and ultra-high-net-worth segments, expanding its client base and product offering.

BTG’s recent moves signal a clear strategy: scale up, integrate experienced teams, and offer a broader range of services to wealthy families in Brazil and beyond. The bank’s management expects further international expansion, especially for Latin American clients seeking global solutions.

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