Driven by record-high issuances, the Brazilian capital markets reaffirm their position as the most robust in Latin America, leading in trading volume, number of listed companies, and product diversity.

In 2024, companies raised $145.9 billion, further cementing the strategic role of Brazil’s capital markets in financing the country’s economy.

Infrastructure boost

Of this total, 90.6% came from fixed-income instruments, highlighting the market’s strong preference for debt securities. In this context, corporate debt has become an essential fundraising channel for companies—particularly in the infrastructure sector, which accounted for 19% of fixed-income issuances last year. Financing through debentures and other debt instruments has become the preferred route for long-term projects, supporting the development of key areas such as transportation, energy, and sanitation.

This expansion is also reflected in the broader financing landscape: the share of the capital markets in credit to non-financial companies rose from 16% in 2017 to 32% in 2024, according to data from the Central Bank of Brazil. Over the past five years, more than 700 companies have tapped the capital markets, spanning 27 economic sectors.

Securitization boom

A key trend gaining momentum is the growing role of securitization. Instruments such as Real Estate Bonds (CRIs), Agribusiness Bonds (CRAs), and direct lending funds (FIDCs) have gained ground as mechanisms that allow companies to raise funds by converting receivables into securities. According to experts, securitization serves as a gateway to the Brazilian capital markets.

In April 2025 alone, securitization instruments—including direct lending funds—accounted for 30% of all capital market issuances in Brazil, totaling $3 billion out of the $10 billion raised that month. The data underscore the growing importance of this mechanism and its role in diversifying companies’ funding sources.

Leading global fund industry

Brazil also stands out for the size of its fund industry, which ranks among the ten largest in the world, according to IOSCO. With $1.7 trillion in assets under management, the industry includes more than 32,000 funds, over 1,000 asset managers, and more than 100 fiduciary administrators, serving more than 40 million accounts. Of the total assets, $46.2 billion are invested abroad, reflecting the increasing international diversification of Brazilian portfolios.

Looking ahead, ANBIMA aims to further enhance its contribution to the country’s economic development by promoting the sustainable growth of private-sector financing through the capital markets. Through self-regulation, which seeks to standardize and ensure best practices, the Association aims to foster the market so that Brazilian companies increasingly turn to capital market instruments to support growth, innovate, and remain resilient in the face of economic challenges.