BTG Pactual Asset Management has closed its acquisition of Lutece Re, a Bermuda-based boutique fund manager that specializes in reinsurance risk, multiple news outlets reported.

With the deal's completion, the acquired company has been integrated into BTG Pactual Asset Management. Lutece Re manages the retro opportunities strategy and plans to launch a low-volatility strategy in 2019.

BTG Pactual Asset Management is part of BTG Pactual Group.