Team size: 2

What are the key projects you have been involved in over the past twelve months?

Over the past twelve months, the legal team at Yellowstone has supported the structuring, negotiation and execution of a number of significant real estate private equity transactions in Colombia, working alongside leading developers and strategic counterparties across the sector.

During this period, the team participated in transactions with an aggregate value exceeding $127m. These transactions included land acquisitions, residential development platforms, structured equity investments and urban development projects.

The legal function was integrated throughout the transactional process, including the structuring of investment vehicles, negotiation of transaction documents, coordination of closing mechanics, governance approvals and risk allocation frameworks. In several transactions, the team also worked alongside development partners and counterparties in connection with the acquisition and structuring of the underlying project land.

In parallel, the team is currently involved in the structuring and negotiation of a syndicated credit facility of up to approximately $400m for the development of a large-scale urban renewal project in Bogotá. The transaction remains ongoing and has required coordination across lenders, sponsors, advisors and multiple stakeholders, together with the implementation of governance and collateral frameworks appropriate for a financing of this scale.

Overall, the past year has reflected the continued growth and increasing sophistication of the platform’s transactional activity, with the legal team serving as a key contributor to the execution of complex investment opportunities.

Can you describe an instance where your legal advice directly influenced business strategy or commercial objectives?

At Yellowstone, the legal function is integrated into the investment process from the early evaluation of an opportunity through the final execution and closing of the transaction.

This approach allows the legal team to contribute not only from a technical legal perspective, but also as part of the broader strategic and commercial analysis surrounding each investment. In practice, this includes participating in transaction structuring, governance analysis, negotiations with counterparties and the development of legal frameworks aligned with the commercial objectives of the investment team.

In many transactions, the legal team also plays a central coordinating role across the different stakeholders involved in the process, helping align commercial and governance considerations, facilitate decision-making and support execution timelines.

As transactions have become increasingly sophisticated, the legal function has evolved into a strategic partner closely involved in both execution and decision-making processes.

How has the role of general counsel evolved, and what are the most important attributes for the modern in-house lawyer?

The role of in-house counsel has evolved considerably. Legal teams are no longer viewed solely as support functions focused on reviewing documents or identifying risks at the final stages of a process. Increasingly, organisations expect their legal teams to contribute to decision-making and provide guidance that is both legally sound and commercially practical.

In our view, one of the most important attributes for today’s in-house counsel is judgment. Technical legal knowledge remains essential, but the ability to assess practical implications and support balanced decision-making has become equally important.

Adaptability is also critical. Legal teams increasingly operate under accelerated timelines and in environments shaped by regulatory developments, market volatility and evolving business priorities.

Finally, communication has become a defining aspect of the role. In-house lawyers frequently interact with investment professionals, management teams, counterparties and external advisors, often acting as a bridge between legal analysis and business execution.

What major challenges or risks should in-house legal teams be preparing for over the next twelve months?

One of the main challenges for in-house legal teams, particularly in industries such as private equity and real estate, will continue to be navigating increasingly uncertain regulatory and economic environments.

In Colombia, businesses are operating amid frequent regulatory developments and evolving policy discussions that may affect the structuring of new investments, financing strategies and, in some cases, existing projects and investment vehicles. At the same time, broader macroeconomic conditions — including interest rate pressures and financing constraints — continue to create additional pressure around governance decisions and transaction execution.

In this context, legal teams can no longer operate from a purely reactive perspective. In-house counsel increasingly need to anticipate potential impacts, remain closely connected to the operational realities of the business and help management and investment teams evaluate risks early in the decision-making process.

Increasingly, the role is not only about identifying risks, but also about helping organisations navigate uncertainty in a practical and solutions-oriented manner.