Targeted investors, not generic lists
Each operation goes to the investors whose mandate, ticket and risk appetite actually match it.
Advisory · Structuring · Capital raising · São Paulo & New York
Credit operations, structured for the investors who fund them.
Sutphin helps companies and credit originators structure credit operations, develop FIDCs and reach the capital partners suited to them. We also advise on special situations and selected growth, infrastructure and natural-resources transactions.
The opportunity
Capital has moved from banks to funds. The path to it hasn't been drawn for most companies.
Bank credit in Brazil is concentrated in a handful of institutions with limited appetite for mid-sized companies and originators. A large and growing share of financing now comes from private credit, special-situations and infrastructure funds. Reaching them requires a different approach.
What companies need
- More sources of capital beyond the traditional banking system
- Structures that fit the business and its receivables, not a standard product
- A fast reading of market appetite before committing time and cost
- Time to run the business, not to run a fundraising process
What investors need
- Access to quality transactions with solid, well-protected returns
- Material that lets a team analyse an opportunity quickly
- Structures aligned with how their committees assess risk
- Counterparties they can trust through diligence and closing
Relationship-centred, not transactional
Investors evaluate opportunities through people they know. Introductions carry weight when they come from a trusted source.
Effective presentation, not a standard pitch
A company sees itself differently from the investor who would fund it. We present it the way the investor thinks.
Our capabilities
Credit operations and FIDCs come first. Everything else follows from the same method.
We work on the structuring and fundraising side of a transaction: designing the operation, preparing it for investors and running the process through closing. Sutphin does not manage funds and does not lend its own capital.
01 — Primary offering
Credit operations & FIDC structuring
For companies with receivables to finance and for credit originators that need a funding vehicle. We help define the structure, the vehicle and the economics, build the investor material and bring in the capital partners suited to the operation.
Who this is for: originators of consignado, commercial and specialised credit; companies with recurring receivables; sponsors looking to fund a credit portfolio through an FIDC or a comparable structure.
- 1.1
Operation design
Eligibility criteria, subordination and protections, cash-flow mechanics and the economics that make the operation fundable.
- 1.2
FIDC development
Vehicle choice and structure, working alongside the administrator, manager, custodian and legal counsel the operation requires.
- 1.3
Investor material
Teaser, information memorandum, financial model and data room, written for the way credit committees read.
- 1.4
Capital partners
Targeted engagement with the funds, asset managers and family offices whose mandates fit the senior, mezzanine or subordinated tranches.
02 — Second offering
Special situations
Companies under financial stress, before or during judicial recovery, need capital partners who understand complexity and move with discipline. We structure the opportunity, prepare the case and connect it with the special-situations and distressed investors able to act on it.
This includes financing against litigation claims and precatórios, non-performing or single-name credit portfolios, and liquidity solutions through spin-offs or the sale of non-core assets.
03 — Other areas of activity
Growth capital
Debt and equity for healthy companies in expansion, including impact-oriented businesses.
Infrastructure
Telecom and data centres, energy, logistics and transport, sanitation.
Natural resources
Coffee, sugarcane, grains and cotton, citrus, and mining.
Our approach
Three phases. Each one earns the next.
We don't take an operation to market until it is ready to be read, and we don't open negotiations until the market has told us where the appetite is. The sequence keeps the client in control of time, cost and terms.
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Structuring
A detailed review of the company, the receivables and the capital need, followed by a strategy for how the operation should be told to investors.
- Financial and corporate analysis
- Structure, vehicle and economics
- Teaser, information memorandum, model, data room
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Testing market appetite
We select the investors in our circle whose mandates fit and take the operation to them directly. Their responses give the client a grounded fundraising opinion before any commitment.
- Investor selection by mandate, ticket and risk
- Direct, targeted introductions
- Fundraising opinion based on real feedback
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Negotiation and closing
With appetite confirmed, we negotiate with the investors who showed interest and stay hands-on through diligence, documentation and funding.
- Term negotiation with interested investors
- Diligence coordination and Q&A
- Documentation through closing
Signal over noise
Investors receive far more opportunities each week than they can read.
An operation gets attention when it reaches the right desk, from a known source, in a form that answers the committee's questions before they are asked. That is what the structuring phase is for.
- The right documents
- The right structure
- The right desk
How investors decide
We prepare every operation for the process it will go through on the other side of the table.
An investment team has to carry your operation through its own committee. The material we build is written so that the director and the analyst can present the thesis without starting from scratch.
- 1
Teaser
Initial interest confirmed; NDA signed.
- 2
Information memorandum
Detailed review of the opportunity; preliminary diligence begins.
- 3
Investment thesis
The team builds its case and presents it to the committee.
- 4
Diligence
Meetings, site visits, data-room review.
- 5
Term sheet
The transaction is structured and terms are agreed.
- 6
Closing
Final documentation and funding.
Committees do not have time to start from zero. Material that is clearer than the other opportunities on the desk is the single biggest advantage a client can give itself.
Why Sutphin
A boutique that sits on the investor's side of the table, working for the client.
Our firm does one thing: it turns the capital needs of companies into transactions with investors. The work is personal, hands-on and conducted by senior people from the first meeting to the last signature.
Targeted investor relationships
Over the years we have built direct relationships with local and international funds, asset managers and family offices, and we know their investment criteria. Each operation goes to the counterparties that fit it.
We know what investors need
A company and its future investor rarely see the business the same way. We bridge that difference: structure, risk, protections and returns presented in the order a committee evaluates them.
Personal, hands-on execution
Few clients at a time, senior attention throughout, and a process that keeps the client in control of terms. Offices in São Paulo and New York, working in Portuguese and English.
Offices
São Paulo
New York
Contact
Have an operation or a capital need? Let's talk it through.
A first conversation is enough to tell whether an operation is ready for investors, what structure fits it and which capital partners are worth approaching. Write to us or use the form.
info@sutphinltd.com