Fynsa
Don Alberto, an enthusiastic entrepreneur, looked at his idea notebook with a mixture of pride and frustration. For months he had carefully prepared his project: a logistics warehouse complex that promised to generate employment and economic movement in his region. He had the land, the contracts signed and a team ready to start. Only one thing was missing: financing.
He knocked on doors, explained flows and guarantees. But his application was still on hold, filed in some folder under the label "under evaluation".
One day, Don Alberto met his old acquaintance, Don Otto, in line at the café. Don Otto, with his classic enthusiasm, proposed his ingenious solution:
-I know, Don Alberto! If the banks won't lend, the government should create a large state fund to finance all projects directly. That way, the credit problem will be solved and investment will take off at once.
Don Alberto sighed.
-Otto, that would be like selling the couch to avoid infidelity. The problem is not the lack of money, but how we channel it. The capital exists; what is missing is how to get it to where it is needed.
A few blocks away, a private debt fund, a private debt was analyzing cases like Don Alberto's: companies with solid projects, predictable cash flows and real assets, but beyond the reach of traditional credit.
These funds, fueled by institutional capital, were replacing bureaucracy with diligence, and "doesn't qualify" with an assessment closer to the reality of the business.
Weeks later, Don Alberto signed the financing contract with that fund. The project got off the ground, the jobs came and, for the first time, capital had found a different path.
Don Alberto's story reflects a real headache for many entrepreneurs.
While banks are tightening their risk appetite and prioritizing more and more standardized profiles, private debt private debt has emerged as an alternative channel, agile and pragmatic, capable of connecting institutional capital with real companies.
Far from being a passing trend, private debt is here to stay. It offers solutions such as tailor-made structures, terms adapted to business flows and a deeper understanding of risk.
Global private debt growth has quadrupled in 10 years, from a US$500bn market in 2015 to over US$2,300bn in 2025 and is expected to exceed US$4,500bn by 2030. Making evident the structural transformation in how development is financed.
The challenge, then, is not to replace banking, but to complement it.
Because the economy needs both: the stability of traditional credit and the innovation of alternative financing. And at that intersection, where capital moves again with purpose, is where growth really begins.
Jaime Cruz
Porfolio Manager Private Debt USA Fynsa AGF
