Fynsa
The private credit market faces a more challenging landscape in 2026, characterized by greater selectivity, lower liquidity, and a more demanding financial environment. However, attractive opportunities continue to emerge in Chile in segments where traditional banks have reduced their presence, particularly in infrastructure, energy, and corporate financing. For investors with a long-term horizon, the market now offers better structures, competitive spreads, and a growing focus on credit quality.
For decades, a company’s value was tied to physical assets: factories, machinery, and infrastructure. Today, that logic has changed radically. In the digital economy, the true engine of growth is intangible assets capable of scaling globally, generating exponential advantages, and redefining the rules of competition and investment.
The shift away from business development companies is revealing key differences within the private credit sector and where value still lies.
In volatile markets, the focus should not be solely on predicting what will happen, but on how prepared we are for different scenarios. Well-executed diversification, combined with active management and efficient access to opportunities, allows us to build more resilient portfolios.
The government is banking on the fact that reconstruction will also involve reviving the real estate market. The challenge will be to translate that assessment into a viable plan and tangible, real results.
In the current U.S. real estate cycle, financing has evolved from a purely operational component into a key driver of value creation. The ability to transition from flexible equity to efficient institutional debt is key to capturing value.
In highly volatile markets, are stock market booms necessarily precursors to a stock market crash?
The incentive intended to boost the market may actually be having the opposite effect.
The recent cases involving Tricolor and First Brands are testing the resilience of the private debt fund industry and the liquidity of its assets.
Simply put, the market is highlighting a structural reality: private credit is not a liquid asset, even though some structures attempt to provide periodic exit opportunities.
