Carlos del Río > Creel, García-Cuéllar, Aiza y Enríquez, S.C. > Mexico City, Mexico > Lawyer Profile

Creel, García-Cuéllar, Aiza y Enríquez, S.C.
Carlos  del Río  photo

Work Department

Mergers and Acquisitions, Private Equity and Real Estate




Mr. del Río has been practicing law for over twenty years and regularly advises large multinationals and domestic and foreign investors and sponsors on acquisitions, investments, joint ventures and divestitures in Mexico across multiple industries and sectors, including Acco Brands Corporation, Regal Beloit Corporation, Apex Tool Group and Archroma. Particularly, Mr. del Río has gained much experience assisting Japanese clients in the investments, divestitures or reorganization of their assets in Mexico, acting as special Mexican counsel for Nidec Corporation and Fujikura Rubber Ltd.

As a partner of the firm’s real estate group, Mr. del Rio has and continues to represent pension funds, private equity funds and other investors in their real estate investments; including industrial investors setting-up their operations in Mexico or strategic joint ventures, for the development and management of real estate assets in Mexico. Most recently, Mr. del Rio advised RLH Properties in the acquisition of a hospitality portfolio Mayakoba in Quintana Roo and BK Partners in the acquisition of its interest in a multifamily portfolio of properties known as “Ciudad Mayakoba” in Quintana Roo. In the realm of private equity and family offices, Mr. del Río has continued to advise SK Capital Partners and its portfolio companies in their acquisitions and day-to-day operations in Mexico.

He has been a regular speaker on mergers and acquisitions, private equity and real estate and is a frequent contributor and co-author of articles in different specialized publications in matters related to his core practice areas and to Pro Bono.

Carlos heads our Corporate Social Responsibility and Pro Bono program and is involved in participating as an organizer or speaker at public interest conferences in Mexico and abroad to promote and facilitate pro bono work. He is Chairman of the Board and is an active member of the Board of Directors of Fundación Appleseed Mexico, A.C., and the Lawyers Council for Civil and Economic Rights of the Vance Center for International Justice and Centro Mexicano Pro Bono.


Spanish and English


Mr. del Río is a member of the Barra Mexicana de Abogados and the International Bar Association (Member of the Pro bono Committee).


He received his law degree (JD) from Universidad Anahuac in Mexico City in 1998, and obtained his LL.M degree from Northwestern University School of Law together with a Certificate in Business Administration from J.L. Kellogg Graduate School of Management in 2001.

Lawyer Rankings

Mexico > Real estate

(Leading individuals)

Carlos del RíoCreel, García-Cuéllar, Aiza y Enríquez, S.C.

Undoubtedly one of Mexico’s predominant forces in real estate practice, the ‘attentive’ and ‘robust’ team at Creel, García-Cuéllar, Aiza y Enríquez, S.C. garners praise for its ‘exceptional knowledge of real estate issues’ and skill at negotiation. The group’s expertise encompasses the regulatory aspects of direct and structured investment, and  strategic property acquisitions in the industrial, retail, commercial, tourism & leisure, residential and urban segments, as well as the development, management and operation of real estate projects. It is routinely instructed by local and multinational developers, promoters, tourism and hospitality companies, and investors – including real estate funds, Mexican CKDs, CERPIs and FIBRAs. The practice is co-led by Monterrey office head Francisco Montalvo, who has a strong track record advising domestic and multinational conglomerates on the acquisition and development of tourism, industrial and residential developments, as well as on the acquisition and divestiture of companies and assets in northern Mexico; and Carlos de Icaza, who works from Mexico City and has led on numerous innovative real estate transactions, often representing industrial groups, real estate investment trusts, development companies and private equity funds. Carlos del Río handles M&A, private equity and real estate transactions from the Mexico City office; Monterrey-based Badir Treviño-Mohamed advises real estate developers, administrators and investors (including international real estate funds, Mexican CKDs and FIBRAs), on the legal and regulatory aspects of investments in real estate for industrial, retail, commercial and tourism purposes. At of counsel level, key contacts include D&I director Valentina Villa and Alejandro Castelló, both of whom focus on real estate and environmental matters; Carlos Yamamoto (real estate and transactional matters); and Alfonso Pulido, who is seen by one client as ‘one of the best real estate lawyers in Mexico’ and is well-versed in the acquisition and sale of industrial and commercial real estate portfolios. Senior associate Brenda Elizondo is also noted. Since publication, Pulido has left the firm – effective as of March 2024.

Mexico > Corporate and M&A

Creel, García-Cuéllar, Aiza y Enríquez, S.C. houses a leading corporate and M&A team over 40-lawyers’ strong which is lauded for its ‘outstanding experience and knowledge in all areas’. Billed by one client as ‘by far the best M&A team in Mexico’, the practice group is well-equipped to advise on sophisticated M&A transactions involving both publicly and privately-traded companies in regulated and unregulated industries. Domestic and multinational corporations, real estate investment funds, private equity funds, global development institutions and investment banks all feature on its client roster, and recent headline matters include advising Apollo Global Assset Management on the conversion of its DIP loan into an equity interest in Grupo Aeromexico (valued at $1.5bn); and Aimia on the divestiture of a $558m, $48.9% equity stake in loyalty program operator PLM, which thereby becomes a wholly-owned subsidiary of the airline. The practice is co-led by seasoned M&A heavyweight Jean Michel Enríquez along with Jorge Montaño, who majors in private equity, venture capital and capital markets transactions. Additional key partners include Eduardo González, who frequently advises private equity firms on follow-on acquisitions and liquidity events; and Humberto Botti, who handles domestic and cross-border acquisitions and divestitures. Providing ‘clear, strategic, tailored solutions, on time… and with a clear 360° vision of the risks and how to mitigate them’, real estate-focused practitioner Carlos del Río and younger M&A partner Diego Barrera comprise ‘a duo the likes of which you are unlikely to find at another firm’. Former practice co-head Iker Arriola, who focuses on M&A, corporate law and antitrust matters, is now resident partner at the firm’s Madrid office, which officially opened its doors in January 2023; while Esteban Valadez (M&A, private equity, joint venture and complex real estate transactions) who was promoted to partner the same month, rounds out the senior bench. A deep associate bench includes seniors Gerardo Zimbrón, who has 15 years’ M&A experience; and Edgar Ancona, who undertakes M&A, PE, joint ventures, minority investments and asset sales. Since publication, Zimbrón has been raised to the partnership and Ancona promoted to counsel – effective as of January 2024.