Brigard Urrutia is one of the most prestigious full-service law firms in Latin America and is Colombia’s leading firm in Capital Markets and Private Equity with the largest team of attorneys dedicated exclusively to Capital Markets and Private Equity activities. 

The Capital Markets and Private Equity Team provides advice to all types of local and foreign investors, family offices, general partners, and investment advisers in all business law areas related to fund formation and fundraising, as well as to the investment and divestment of collective investment funds’ assets under management (mergers and acquisitions, and financing structures). Due to our extensive experience and knowledge of the financial and capital markets regulations, we also provide assistance in the promotion of foreign financial and capital markets-related products and services in Colombia and to Colombian residents.

We represent local and foreign issuers, institutional investors, brokers, investment banks, financial institutions, governments and supranational organizations in the issuance of equity and debt securities, corporate bonds, sovereign bonds, structured and subordinated notes, ADRs and GDRs and participation units of private equity funds, ETFs and REITs.

Throughout our history, we have had the opportunity of witnessing and contributing to the development of the Colombian economy by advising our clients on groundbreaking, landmark transactions. We have also pioneered in the capital markets realm by designing legal structures to enable our clients to achieve their goals.
 

Portfolio of Services
Investment portfolios
  • Private equity and venture capital funds.
  • Real estate investment funds - REITS.
  • Fundraising for private equity funds, mutual funds, fund of funds (fundraising).
  • Collective portfolio.
  • Implementation, listing and promotion of Exchange Traded Funds - ETFs.
     
Investment portfolios
  • Private equity and venture capital funds.
  • Real estate investment funds - REITS.
  • Fundraising for private equity funds, mutual funds, fund of funds (fundraising).
  • Collective portfolio.
  • Implementation, listing and promotion of Exchange Traded Funds - ETFs.
     
Issuances
  • Local issuance of securities, including public and private placement of shares, public and private debt bonds, and structured and subordinated notes. 
  • Local issuance of securities by foreign issuers.
  • International issuance of securities by local issuers, including American Depositary Receipts, and issuances recorded under the Securities Exchange Act of 1934.
  • Securitizations.
     
Issuances
  • Local issuance of securities, including public and private placement of shares, public and private debt bonds, and structured and subordinated notes. 
  • Local issuance of securities by foreign issuers.
  • International issuance of securities by local issuers, including American Depositary Receipts, and issuances recorded under the Securities Exchange Act of 1934.
  • Securitizations.
     
Securities offering and foreign financial services in Colombia
  • Providing advice regarding the authorization procedure and subsequent compliance with regulatory obligations of representative offices and correspondent agreements.
Securities offering and foreign financial services in Colombia
  • Providing advice regarding the authorization procedure and subsequent compliance with regulatory obligations of representative offices and correspondent agreements.
Stock exchange mergers and acquisitions
  • Legal Structuring of Takeover Bids (OPA), public offerings for democratization and Auctions.
  • Advice on conducting operations on fixed-rate and variable-rate securities in the Secondary Market.
  • Providing advice on corporate reorganizations procedures of securities issuers.
  • Structuring of investments and exit strategies for Private Equity Funds.
     
Stock exchange mergers and acquisitions
  • Legal Structuring of Takeover Bids (OPA), public offerings for democratization and Auctions.
  • Advice on conducting operations on fixed-rate and variable-rate securities in the Secondary Market.
  • Providing advice on corporate reorganizations procedures of securities issuers.
  • Structuring of investments and exit strategies for Private Equity Funds.
     
Regulatory affairs
  • Providing advice related to intermediation activities in the stock market.
  • Providing advice regarding the registration of securities in local or foreign securities trading systems - MILA and Colombian Global Market.
  • Providing advice related to the registration of foreign securities in the local market.
  • Providing advice related to the formation of liquidity in the stock market.
  • Responsibility of managers, management of privileged information, publication of relevant information and management of issuers of the stock market.
  • Providing advice on the incorporation and reorganization of entities supervised by the Finance Superintendence of Colombia.
     
Regulatory affairs
  • Providing advice related to intermediation activities in the stock market.
  • Providing advice regarding the registration of securities in local or foreign securities trading systems - MILA and Colombian Global Market.
  • Providing advice related to the registration of foreign securities in the local market.
  • Providing advice related to the formation of liquidity in the stock market.
  • Responsibility of managers, management of privileged information, publication of relevant information and management of issuers of the stock market.
  • Providing advice on the incorporation and reorganization of entities supervised by the Finance Superintendence of Colombia.
     
Corporate governance
  • Providing advice for potential issuers of securities in the implementation of good corporate governance practices.
  • Development of Codes of Good Corporate Governance and other related corporate documents.
  • Providing advice regarding administrative restructuring.
  • Providing advice for directors and managers on the management of securities issuing companies.
     
Corporate governance
  • Providing advice for potential issuers of securities in the implementation of good corporate governance practices.
  • Development of Codes of Good Corporate Governance and other related corporate documents.
  • Providing advice regarding administrative restructuring.
  • Providing advice for directors and managers on the management of securities issuing companies.
     
Experience
Provided advice to ESTRATEGIAS CORPORATIVAS in the structuring of the first real estate investment trust (REIT) ever made in Colombia that has a shelf registration for the amount of approximately US$ 500 million (2006).
Provided advice to ESTRATEGIAS CORPORATIVAS in the structuring of the first real estate investment trust (REIT) ever made in Colombia that has a shelf registration for the amount of approximately US$ 500 million (2006).
Provided advice to BANCO DE CRÉDITO in the issuance of US$ 130 million-worth of preferred shares, implementing the book-building mechanism, which was the first time it was ever used in Colombia (2007).
Provided advice to BANCO DE CRÉDITO in the issuance of US$ 130 million-worth of preferred shares, implementing the book-building mechanism, which was the first time it was ever used in Colombia (2007).
Provided advice to the first foreign issuer to register its shares in the National Registry of Securities and Issuers – RNVE and in the Colombian Stock Exchange. PACIFIC RUBIALES (2009).
Provided advice to the first foreign issuer to register its shares in the National Registry of Securities and Issuers – RNVE and in the Colombian Stock Exchange. PACIFIC RUBIALES (2009).
Provided advice to BLACK ROCK in the structuring of the first Exchange Traded Fund (ETF) – iShares in Colombia (2011).
Provided advice to BLACK ROCK in the structuring of the first Exchange Traded Fund (ETF) – iShares in Colombia (2011).
Provided advice to SAB MILLER PLC and BAVARIA S.A. in the structuring of the first bond exchange program performed in Colombia under an ordinary bond and commercial papers issuance program scheme.

The securities were dual-listed in the Cayman Islands Stock Exchange (2011). 

Provided advice to SAB MILLER PLC and BAVARIA S.A. in the structuring of the first bond exchange program performed in Colombia under an ordinary bond and commercial papers issuance program scheme.

The securities were dual-listed in the Cayman Islands Stock Exchange (2011). 

Provided advice to CEMENTOS ARGOS S.A. in the simultaneous offering of approximately US$ 730 million preferred shares in the Colombian market, and ADRs in international markets.

The structure of the issuance included, for the first time in Colombia, a greenshoe option for the international underwriters (2013).

Provided advice to CEMENTOS ARGOS S.A. in the simultaneous offering of approximately US$ 730 million preferred shares in the Colombian market, and ADRs in international markets.

The structure of the issuance included, for the first time in Colombia, a greenshoe option for the international underwriters (2013).

Provided advice to CREDIT SUISSE SECURITIES (USA) Inc. and JP MORGAN SECURITIES LLC in the largest issuance of global bonds for an amount of US$ 2,000,000,000 with the longer maturity term (30 years) executed by the Republic of Colombia (2014).
Provided advice to CREDIT SUISSE SECURITIES (USA) Inc. and JP MORGAN SECURITIES LLC in the largest issuance of global bonds for an amount of US$ 2,000,000,000 with the longer maturity term (30 years) executed by the Republic of Colombia (2014).
Provided advice to BANCOLOMBIA S.A. in the first local issuance with discretionary placement under the book-building mechanism (2014).
Provided advice to BANCOLOMBIA S.A. in the first local issuance with discretionary placement under the book-building mechanism (2014).