An investor group led by US buyout firm JC Flowers is in talks to buy a stake in Brazil's privately held Banco BTG Pactual SA, Bloomberg said, citing three people with knowledge of the deal.

The investor group includes sovereign wealth fund Government of Singapore Investment Corp (GIC) [GIC.UL], the agency said.

The group is looking to buy about 15% of the Brazilian firm for about US$1.5 billion ($2 billion) and an announcement may come as early as this week, people told the agency.

JC Flowers could not immediately be reached for comment by Reuters outside regular US business hours.