BTG Preps RE Fund of Fund Retap

BTG Pactual is preparing to reopen its real estate fund of funds for up to BRL500m. The Fundo de Investimento Imobiliario (FII) BTG Pactual Fundo de Fundos invests in other FII funds, as well as in other real estate instruments, including certificados de credito imobiliarios (CRI) and letras hipotecarias (LH). As of December, 84% of the fund’s assets were FII shares, and 14% CRI. The transaction is able to be upsized by as much as BRL150m. BTG was due to conclude the rights offering period by April 5, and wrap up the reopening, the fund’s fifth, by May, according to a prospectus., BTG is managing the transaction. The fund’s shares closed at BRL124.00 each.