Latin America Private Equity 2024
Supported by the Association of Corporate Counsel
General legal counsel and corporate secretary, BBVA Valores | BBVA
General counsel and chief compliance officer | Canvas Capital Brasil
As the GC Powerlist series expands, our aim is to create editions that spotlight individuals excelling in realms that may have previously eluded our attention. As investors increasingly turn to Private Equity for higher returns and strategic investments, specialised firms equipped with deep industry knowledge and transactional expertise are becoming indispensable. These companies facilitate complex deal structures, conduct meticulous due diligence, and navigate regulatory landscapes with expertise.
Targeting areas for expansion within the GC Powerlist series depends on various factors such as emerging trends, industry developments, and the evolving needs of the legal community. Latin America was seen has the perfect setting given the continuous growth and demand for organisations specialised in Private Equity, as well as the great quality and talent of individuals based in the region.
Accordingly, we are proud to introduce you to this very special edition of the GC Powerlist: Latin America Private Equity 2024.
The interviews you can exclusively read in this publication were enlightening and provided fresh perspectives not only on how investment firms are utilising their legal experts to increase their gains, but also how difficult and unique of an environment the Latin American region is. “Latin American market’s economic stability and political dynamics vary widely, adding layers of complexity to legal strategies”, as recognised by Diego Corp Hoces de la Guardia, general counsel at Verano Energy, who also advises that “[r]emaining vigilant to navigate intricate regulations and ensure strict compliance is an ongoing commitment. The ever-changing political and economic dynamics necessitate a proactive stance to anticipate and mitigate potential risks. Constructing legal strategies that adeptly account for these uncertainties while still aligning with business goals is a constant juggling act.”
Another great look at the Latin American scene when dealing in Private Equity is the perspective shared by Alfredo Apestegui, principal and chief legal officer at Mesoamerica, who states that “[d]oing Private Equity deals in Latin America has taught me several important lessons (…) there is no such thing as a “LATAM deal”, as every country is very different in terms of legal, political and macro environment, so having the right local partners and advisors is key”, a view that clearly manifests the great challenges that in-house lawyers face in this quite specialised sector of the legal industry.
Despite challenges and difficulties, our interviews also reveal the great and many favourable outcomes that are result of these brilliant lawyers’ hard work. As Julian Graciano, legal vice president at Yellowstone Capital Partners notably expresses: “[s]eeing the positive impact of our investments in the environment and the lives of so many people and communities while meeting the expectations of our investors is the most rewarding experience of working as an in-house lawyer”. This sentiment was inferred during the interviews conducted, as there seems to be a collective deep fulfilment to see how their legal expertise contributes to sustainable development, social progress and economic growth, while also aligning with generally accepted values and commitments.
The in-house lawyers deservedly featured in this special edition of the GC Powerlist strike the perfect balance between achieving financial objectives and fostering meaningful change, underscoring the profound impact legal experts can have in society. On behalf of The Legal 500, would like to introduce you to the most diligent and expert in-house lawyers in the field of Private Equity based in Latin America, and congratulate them for this terrific achievement.
Francisco Faria e Castro
Editorial lead
In-House Legal Research Team | GC Powerlist Series
DLA Piper in Latin America’s Team offers full-service business legal counsel to domestic and multinational companies with interests in and operations throughout the region. Our integrated approach to serving clients combines local knowledge with the resources of the DLA Piper global platform. With over 450 lawyers practicing throughout Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Puerto Rico, in addition to our US-based cross-border attorneys, our teams frequently work with our professionals throughout the LatAm region, Iberian Peninsula, and around the globe.
A number of our lawyers were born or raised and educated in the region and are fluent in Spanish and/or Portuguese. Many have also practiced law in both the US and Latin America and are intimately familiar with civil law systems and with the cultural and legal nuances required to successfully do business in the region. Our strategic relationships on the ground throughout Latin America enhance our understanding of the region and enable us to provide our clients practical, meaningful legal advice. DLA Piper’s global platform of 90+ offices in more than 40 countries enables us to serve all of our clients’ legal needs, whether they are based in Latin America or wish to do business there.
The United States, specifically New York and Florida, has deep economic and cultural ties to Latin America. After many decades of being at the center of the most complex cross-border matters related to Latin America, New York law is firmly established as the most widely accepted applicable/governing law on cross-border transactions related to Latin America.
Our US based team of Latin America practitioners regularly acts as lead counsel on a wide range of cross-border matters in Latin America, ranging from complex capital markets, finance and M&A matters to public private partnerships and market entry and establishment issues. For more information, visit Latin America | DLA Piper.
On 26 March, Legal 500 partnered with Portuguese law firm PLMJ to bring its renewed sustainability‑focused conference series to Lisbon with the ESG Forum: Portugal 2026. The half‑day event gathered senior leaders from the legal, financial, energy and sustainability spheres for a concentrated programme hosted at PLMJ’s offices. Throughout the sessions, speakers explored the regulatory, governance and enforcement forces reshaping ESG strategy in Portugal, offering a clear cross‑sector perspective on how organisations are adapting to an increasingly complex and fast‑moving landscape.
The event opened with some welcome remarks from Legal 500 editor Francisco Castro, who emphasised the value of events that bring the in‑house community together to learn, exchange experiences and build meaningful professional networks. In his welcome address, he highlighted the growing complexity of ESG obligations across Europe and the increasing pressure on organisations to adopt integrated, business‑wide approaches to compliance, risk management and strategic planning. By underscoring the need for practical, grounded discussion rather than abstract theory, he set the tone for a programme designed to deliver actionable insight and foster collaboration among practitioners navigating a rapidly evolving ESG landscape.
Followed an opening brief delivered by PLMJ’s Managing Partner, Bruno Ferreira, who provided a concise yet comprehensive overview of the ESG priorities defining Portugal in 2026. He outlined the expanding influence of EU regulatory frameworks on corporate reporting, due diligence and governance, noting how these requirements are reshaping expectations around data quality, transparency and accountability. His remarks positioned ESG not as a peripheral concern but as a central driver of corporate behaviour, capital flows and long‑term competitiveness in the Portuguese market.
The first panel, moderated by João Marques Mendes, Partner at PLMJ and joined by Cláudia Teixeira de Almeida of Banco BPI, Nuno Moraes Bastos of GALP and Diogo Graça of REN, explored how corporate governance and sustainable finance are shaping Portugal’s energy transition. The discussion examined how boards and executive teams are adapting oversight structures to manage transition‑related risks and how legal, compliance, sustainability and procurement functions are increasingly intertwined in project governance. Panellists described the growing influence of financing structures on project execution, noting that lenders’ expectations around ESG metrics, contractor performance and transparency now shape governance decisions from the earliest stages. They also addressed the operational constraints that continue to challenge Portugal’s transition ambitions, including permitting timelines, grid capacity limitations and delivery risk. While acknowledging the complexity of EU‑level frameworks, speakers emphasised that these standards also present strategic opportunities to harmonise practices, unlock investment and strengthen Portugal’s competitive position in the energy transition.
Following a short break, the second panel turned to litigation, liability and the emerging enforcement era surrounding sustainability claims. Moderated by Raquel Azevedo, Partner at PLMJ and featuring contributions from Carla Góis Coelho of PLMJ, Carlos Martins Ferreira of Jerónimo Martins, Filipa Rodrigues Carmona of Caixa Geral de Depósitos and Céline da Graça Pires of NOVA, the session examined the rapid rise of ESG‑driven disputes, investigations and regulatory actions. Panellists discussed the typical trigger points for scrutiny, ranging from sustainability reports and corporate websites to marketing materials and investor presentations, and highlighted how these touchpoints are increasingly tested by regulators, competitors, consumers and NGOs. They analysed recent case law developments and their implications for Portuguese organisations, noting the emergence of more stringent evidentiary standards around disclosures and due‑diligence obligations. The panel concluded that sustainability claims can no longer be treated as aspirational messaging; they now carry the weight of binding legal obligations, requiring more rigorous internal validation and cross‑functional coordination.
The forum concluded with closing remarks from Francisco Castro, after which attendees were invited to continue their conversations over a light lunch, providing a relaxed setting to deepen connections and reflect on the themes explored throughout the morning.
Legal 500 extends its thanks to PLMJ for its collaboration in bringing this conference format to Portugal’s in‑house legal community. The team looks forward to returning soon for the launch event of this year’s GC Powerlist: Portugal.
