As the $1.7 trillion private credit industry faces a significant fundraising slump, firms like Adams Street Partners, Antares Holdings, and Hayfin Capital Management are focusing on Latin America. They're targeting pension funds and wealthy individuals. 

Philippe Stiernon of ROAM Capital notes that scarce capital in the US and Europe is pushing managers to diversify. With institutional investors in the US and Europe at saturation points, funds are exploring Latin America for new growth. 

This region offers safer investments compared to its volatile domestic debt markets. Stiernon describes Latin America as "the last major frontier for LP growth" in the alternative investments landscape.

Finsum: This presents an opportunity to ultra diversify and get truly uncorrelated turns as we move into a potentially tumultuous election cycle.