BTG Pactual business and investment activities in Brazil

BTG Pactual has engaged in activities focused on the Brazilian business landscape, beginning with the launch of its first Entrepreneur Forum for small and medium-sized enterprises. The event was designed to provide business owners with insights into management, technology, and credit, featuring executives from BTG Pactual alongside representatives from major technology firms and government entities.

Following this initiative, BTG Pactual chairman André Esteves provided a broader outlook on the Brazilian investment climate through 2030. While advocating for investment in domestic companies with strong execution capabilities, Esteves highlighted a distinction between economic and institutional challenges. He noted that while the economic path regarding fiscal balance is relatively clear, the institutional environment remains a critical concern, specifically regarding the rise of informality in regulated sectors.

Expanding on these views, Esteves recently addressed Brazil’s fiscal and political outlook. Regarding the 2026 presidential election, he projects an extremely tight race that will likely require a second round. On fiscal policy, he criticized current expansionary measures and called for a review of the “absurd” volume of tax-exempt securities to increase federal revenue. Esteves argued that a proactive fiscal adjustment could reduce the Selic rate to approximately 7% per year. He continues to recommend that investors maintain capital within Brazil, focusing on established companies with world-class execution capabilities rather than unfamiliar sectors.