Clifford Chance > Sao Paulo, Brazil > Firm Profile

Clifford Chance
04552-050 SÃO PAULO

Latin America: International firms > Capital markets

Clifford Chance has continued to make a further impression in sovereign offerings and remains a major player in key markets such as Colombia, while retaining high levels of activity across all geographic regions. The firm is noted for transactions across the equity and debt product range from IPOs to high-yield debt offerings. Its substantial team in Sao Paulo makes the firm well-equipped in Brazil offerings, while a large New York group has a major focus on the wider Latin America region. Jonathan Zonis has a long track record in Latin America capital markets transactions, including sovereign offerings. Hugo Triaca is another ‘outstanding’ member of the team, active in equity and debt transactions across the region. Sao Paulo’s Patrick Jackson, who was promoted to partner in May 2022, and counsel Anja Pfleger Andrade are also key names. Named individuals are based in New York unless stated otherwise. Anand Saha has left the firm.

Practice head(s):

Jonathan Zonis; Anthony Oldfield


The Clifford Chance team stands out for being a highly committed team in the successful achievement of the transaction they are advising. The knowledge, experience and commitment is remarkable.

The plus that makes the firm’s lawyers stand out is their extensive knowledge, experience and practicality in executing transactions. It differs from competitors by commitment and availability, timely and efficient. Lawyer Hugo Triaca is outstanding for his intelligence, commitment, dedication, knowledge and agility in the execution of bond issues.

Clifford Chance’s capital markets practice combines world-class technical know-how with extensive work experience and knowledge of Argentina and how transactions are executed in the country.

Hugo Triaca is excellent. He is a great lawyer and a great person. Working with Hugo is always a pleasure and is a guarantee that the transaction will come to fruition.

What makes them unique is the understanding of the business and thus seeking out what is best for their clients.

Key clients

AES Panama

Republic of Costa Rica


Banco do Brasil

Klabin Finance

Empresas Públicas de Medellín


Banco Latinoamericano de Comercio Exterior

Compañía Latinoamericana de Infraestructura y Servicios

Corporación Financiera de Desarrollo

Work highlights

  • Advised Corporación Multi Inversiones’s renewable energy business unit, CMI Energía, on the refinancing of approximately $1bn in existing project finance debt owed by its subsidiaries in Guatemala, Honduras, Nicaragua, Costa Rica, El Salvador and the Dominican Republic.
  • Advised the ad hoc bondholder group with respect to the debt restructuring by Argentina’s state-run energy company, YPF, of its 6.75% notes (due 2021) and additional debt securities, with an aggregate value of over $6bn.
  • Advised Compañía Latinoamericana de Infraestructura & Servicios (CLISA) on its $322m international exchange offer and consent solicitation.

Latin America: International firms > Corporate and M&A

Clifford Chance has an extensive record in energy and infrastructure transactions in Latin America. It is also at the forefront of advising private equity and financial sponsors on their investments and divestments in the region. With Latin America M&A specialists in its Sao Paulo, New York and Madrid offices, it has a solid pipeline of corporate and M&A engagements. The practice continues to develop its standing in Brazil transactions, notably in the fintech area, which includes venture capital funding arrangements. The Latin America team has also successfully targeted growth markets such as Ecuador and has landed a series of engagements in telecoms and data centre transactions. Sao Paulo managing partner Anthony Oldfield is a seasoned corporate and M&A specialist with impressive connections to Brazilian corporates and investors. David Brinton has an extensive record in energy, infrastructure and natural resources transactions in Latin America, including private equity investments and divestments. Thais Garcia, who recently relocated back to Sao Paulo, is a fast-emerging talent with a burgeoning record in Latin America M&A and private equity transactions, especially in Spanish speaking jurisdictions. Madrid’s Javier Amantegui and Samir Azzouzi are also active in Latin America deals. Senior associate Carla Ruggero is also noted. All named individuals are based in New York unless stated otherwise.

Practice head(s):

David Brinton; Anthony Oldfield; Javier Amantegui


The team is simply exceptional. In addition, each of its members are lawyers with deep knowledge of the issues, and above all it is pleasant to work with them.

Thais Garcia has a great knowledge of energy sector M&A in LATAM and is a trusted advisor for trans-frontier transactions.

Clifford Chance advises on M&A transactions. The experience arising from advising on relevant M&A operations in a wide variety of sectors is very valuable and contributes a lot to the quality of the advice offered by this firm. The fluency in the Spanish language of its lawyers facilitated the interaction with the different teams of the company.

Thais García and Carla Ruggero are two Clifford attorneys who stand out for their extensive experience in advising on M&A transactions. Their brilliant journey allows them to always give alternatives to clients in the face of situations that arise in operations. They are very kind people and always available when needed. The command of several languages is also a great advantage.

Great commercial and negotiation experience with international partners and counterparties.

Agility of execution, holistic view and quality of work.

Key clients



Caisse de dépôt et placement du Québec (CDPQ)

Empresas Públicas de Medellín (EPM)


Interconexión Eléctrica (ISA)



Neon Pagamentos

Votorantim Cimentos

Work highlights

  • Advised Interconexión Eléctrica on its acquisition of minority interests in Internexa, a holding company in the telecoms sector in Latin America.
  • Advised affiliates of Brazil-based Fitesa on the acquisition of 100% of the equity of Tredegar Personal Care from Tredegar Corporation.
  • Advised Interconexión Eléctrica on its acquisition of the Costera Cartagena Barranquilla 4G toll road in Colombia.

Clifford Chance is one of the world’s pre-eminent law firms, with significant depth and range of resources across five continents. As a single, fully integrated, global partnership, it prides itself on its approachable, collegial and team-based way of working. The firm always strives to exceed the expectations of its clients, which include corporates from all the commercial and industrial sectors, governments, regulators, trade bodies and not-for-profit organizations. It provides them with the highest quality advice and legal insight, which combines the firm’s global standards with in-depth local expertise.

Main areas of practice
Capital markets: the capital markets practice concentrates on securities transactions and other products sold into the capital markets. The practice is founded on a full-service US and UK securities law capability, complemented by local securities law expertise in each of the key financial centers. It provides practical, integrated legal advice covering the full spectrum of global capital raising activities including public and private domestic and international offerings of traditional debt and equity securities as well as convertible and other derivative and structured securities.

Corporate: the corporate practice handles some of the world’s largest and most complex M&A transactions. It combines global transaction capability with a full service of US, English and civil law expertise in the key financial centers across Europe, the Americas and Asia Pacific. In addition to mainstream M&A, the firm also encompasses leading specialist practices in: commercial contracts, competition and antitrust, communications, energy, healthcare, financial institutions, funds, investment banking, insurance, media and technology, and private equity.

Finance: Clifford Chance’s finance practice is the leading international finance practice of any law firm. The practice provides highly commercial and practical advice across the full spectrum of financial products including syndicated lending and leveraged and acquisition finance, asset finance, derivative products, project finance, financial regulatory, insolvency, restructuring and structured finance.

Litigation, dispute resolution and risk management: the firm has experience in virtually all segments of the business and financial markets across multiple jurisdictions. The lawyers work with clients to resolve disputes efficiently and effectively – whether through arbitration, litigation or other techniques.

Real estate: Clifford Chance’s leading real estate practice offers US, UK, European and Asian real estate capability. The practice advises the real estate industry’s leading players on the entire property ‘life-cycle’ from the initial acquisition, development, leasing, joint venturing and financing through to the final exit, as well as tax structuring, PFI/PPP, corporate outsourcing, planning, environment and litigation.

Tax, pensions, employment and incentives: Clifford Chance has one of the world’s largest international tax groups within a single law firm. The firm is uniquely placed to provide leading edge advice to clients, and the practice is structured on an integrated global basis. Local tax groups within the practice work closely with areas such as securitization, securities, M&A, corporate restructuring, private equity, real estate and funds.

The pan-European VAT group advises on all areas of VAT and has particular strength advising on novel and complex issues in the structured finance, financial services, corporate finance and real estate sectors.

The team of experienced employment, employee benefits, ERISA, immigration and pensions specialists work with clients from a wide range of sectors to address local and cross-border issues.

Number of Partners : 556
Number of other fee-earners : 3295
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Advice To My Younger Self: Reflections of Successful Women Lawyers

Women lawyers open up about their careers and defining choices

Advice To My Younger Self: Reflections of Successful Women Lawyers is published by The Legal 500‘s GC Magazine in collaboration with Clifford Chance. Now in its second release, the book is a practical resource for anyone interested in charting a successful career path at a law firm or by moving in-house. It features interviews with 20 women partners, alumnae and in-house counsel, with additional contributions from members of Clifford Chance’s senior management and US-based recruiting team. Visit our website to learn more about practical tips for building your career.

RISING LAWYERS open up about their priorities and strategies for success

Their Voices: Insights from Today’s Rising Lawyers by The Legal 500‘s GC Magazine in collaboration with Clifford Chance. Geared primarily for students and junior lawyers, the book is a practical resource for those considering law school or just beginning a legal career. Twenty junior lawyers offer diverse perspectives on what inspires them about the law, and the strategies that are helping them stay in touch with their priorities and define the future of their careers. Their Voices also provides insights for senior lawyers as they mentor the next generation of leaders.