

Luis Fernando Ramírez
President & CEO
Luis Fernando Ramírez is CEO, Co-Founder Partner, Investments Committee Member and Board Member at YELLOWSTONE. Mr. Ramirez has over +35 years of professional experience in finance, Investment banking, real estate investments and M&A. He has led transactions for top Latin-American companies and senior experience in public sector administration. He was Minister of Defense from 1999 to 2001; Minister of Labor from 1992 to 1994; Vice Minister of Finance and Public Credit and General Director of the Colombian Tax Authority (DIAN). He has served as Chairman of the board of directors of Ecopetrol, Colombia’s largest oil & gas company, board member at Grupo Aval, one of Colombia’s largest financial conglomerates, and board member of the Development Bank of Latin America, CAF, among others.
Luis Fernando Ramirez is a Public Accountant from Tadeo University in Bogota, where he was also awarded as Doctor Honoris Causa in Accounting Sciences and he is a Fellow of the Center for International Affairs at Harvard University in Boston.
Luis Fernando Ramírez is CEO, Co-Founder Partner, Investments Committee Member and Board Member at YELLOWSTONE. Mr. Ramirez has over +35 years of professional experience in finance, Investment banking, real estate investments and M&A. He has led transactions for top Latin-American companies and senior experience in public sector administration. He was Minister of Defense from 1999 to 2001; Minister of Labor from 1992 to 1994; Vice Minister of Finance and Public Credit and General Director of the Colombian Tax Authority (DIAN). He has served as Chairman of the board of directors of Ecopetrol, Colombia’s largest oil & gas company, board member at Grupo Aval, one of Colombia’s largest financial conglomerates, and board member of the Development Bank of Latin America, CAF, among others.
Luis Fernando Ramirez is a Public Accountant from Tadeo University in Bogota, where he was also awarded as Doctor Honoris Causa in Accounting Sciences and he is a Fellow of the Center for International Affairs at Harvard University in Boston.
President & CEO

Juan Carlos Moreno
Co-Founder & CIO
Juan Carlos Moreno is Co-Founder & CIO and Investment Committee Member at YELLOWSTONE, responsible for executing the firms business plan and overseeing all aspects of deal-making, portfolio oversight, pipeline development, and accountable for leadership of the team. Juan Carlos has +12 years of professional experience in Private Equity and Real Estate Investments. Between 2013-2018, he led all aspects of corporate M&A, investment strategy, capital markets, and deal-making for AMARILO, where he has been a board member since 2008. Between 2008 and 2012 he worked as a Private Equity Associate at MAS Equity Partners, a pioneer Private Equity Firm in the Andean Region, actively participating in capital raising, sourcing, structuring, negotiation, investment, and divestment of private equity transactions, and portfolio company oversight in the Andean region in the hospitality, entertainment, agribusiness and financial services industries.
Juan Carlos served in the Colombian Military as an Infantryman between 2002 and 2003, where he actively participated in desert operations in the Middle-Eastern Sinai Peninsula, and earned a medal of honor. He obtained a full-time MBA from IE Business School in Madrid, and a BSc in Industrial Engineering with minor in Mathematical Finance from Universidad de los Andes in Bogota.
Juan Carlos Moreno
Co-Founder & CIO
Juan Carlos Moreno is Co-Founder & CIO and Investment Committee Member at YELLOWSTONE, responsible for executing the firms business plan and overseeing all aspects of deal-making, portfolio oversight, pipeline development, and accountable for leadership of the team. Juan Carlos has +12 years of professional experience in Private Equity and Real Estate Investments. Between 2013-2018, he led all aspects of corporate M&A, investment strategy, capital markets, and deal-making for AMARILO, where he has been a board member since 2008. Between 2008 and 2012 he worked as a Private Equity Associate at MAS Equity Partners, a pioneer Private Equity Firm in the Andean Region, actively participating in capital raising, sourcing, structuring, negotiation, investment, and divestment of private equity transactions, and portfolio company oversight in the Andean region in the hospitality, entertainment, agribusiness and financial services industries.
Juan Carlos served in the Colombian Military as an Infantryman between 2002 and 2003, where he actively participated in desert operations in the Middle-Eastern Sinai Peninsula, and earned a medal of honor. He obtained a full-time MBA from IE Business School in Madrid, and a BSc in Industrial Engineering with minor in Mathematical Finance from Universidad de los Andes in Bogota.
Co-Founder & CIO

Julio Ortiz
Vice-President Legal
Julio Ortiz is Vice-President Legal at YELLOWSTONE, advising and leading the structuring, negotiation, and execution of Real Estate investments and all strategic legal aspects. Mr. Ortiz has 14+ years of professional experience specialized in Real Estate deal-making, M&A, Corporate Law and Strategy. He was General Counsel at AMARILO GROUP for 5+ years, leading the structuring and execution of Real Estate investments, and actively involved in the company’s inorganic growth strategy by sourcing and executing deals at the corporate holding level and providing strategic counsel. He was previously Corporate Director at Conconcreto, a leading Colombian Real Estate and Infrastructure development company, leading the company’s IPO process and growth strategy. He also worked for 5+ years as an Associate at Brigard & Urrutia, a top-tier Colombia-based law firm.
Julio earned his Law degree and a post-graduate degree in Corporate Finance from Universidad de los Andes in Bogota.
Julio Ortiz
Vice-President Legal
Julio Ortiz is Vice-President Legal at YELLOWSTONE, advising and leading the structuring, negotiation, and execution of Real Estate investments and all strategic legal aspects. Mr. Ortiz has 14+ years of professional experience specialized in Real Estate deal-making, M&A, Corporate Law and Strategy. He was General Counsel at AMARILO GROUP for 5+ years, leading the structuring and execution of Real Estate investments, and actively involved in the company’s inorganic growth strategy by sourcing and executing deals at the corporate holding level and providing strategic counsel. He was previously Corporate Director at Conconcreto, a leading Colombian Real Estate and Infrastructure development company, leading the company’s IPO process and growth strategy. He also worked for 5+ years as an Associate at Brigard & Urrutia, a top-tier Colombia-based law firm.
Julio earned his Law degree and a post-graduate degree in Corporate Finance from Universidad de los Andes in Bogota.
Vice-President Legal

Andrés Jaramillo
Vicepresidente de Gestión de Inversiones
Andrés Jaramillo es Vicepresidente de Gestión de Inversiones de YELLOWSTONE y presta apoyo activo al presidente y al Gerente de Inversiones en las labores de recaudación de capital y gestión de inversiones; tiene la responsabilidad de supervisar de manera directa la cartera de inversiones y el modelo financiero. Andrés tiene más de 14 años de experiencia profesional y especializada en finanzas corporativas e inversiones. También cuenta con amplia experiencia en planificación financiera, financiamiento y avalúo de proyectos de inversión inmobiliaria. Por más de 4 años, fue director senior de Planeación Financiera en Ospinas, una empresa de construcción e inversiones inmobiliarias del mercado medio que goza de gran renombre; allí dirigió el equipo de inversiones en la estructuración de proyectos, los mercados de capital y las labores de supervisión. También ha trabajado en la industria de los servicios financieros durante aproximadamente 9 años, de los cuales 5 años fueron en Bancolombia la sección de Inversiones.
Andrés obtuvo el título de Administrador de Empresas de la Universidad CESA en Bogotá, además de una especialización en Finanzas y una maestría en Administración Financiera de la Universidad EAFIT.
Andrés Jaramillo
Vice-President Investment Management
Andrés Jaramillo is Director of Investments at YELLOWSTONE, actively supporting the President and CIO in capital raising, investments management, and is accountable for direct portfolio oversight and financial modeling. Andrés has 14+ years of professional experience specialized in corporate finance, and investments. He has seasoned experience in financial planning, funding, and project valuation of Real Estate Investments. He was the Financial Planning Senior Director at Ospinas for 4+ years, a reputable middle-market real estate development/investments company, leading the investment team in project structuring, capital markets, and oversight. He has also worked in the financial services industry for approximately 9 years, of which almost 5 years were in Bancolombia in the Investment section.
Andres earned his Business Degree from CESA University in Bogota, and also has a post-graduate Finance Degree and a Financial Master’s Degree from EAFIT University.
Vice-President Investment Management

Ricardo Boada
Director Business Development
Ricardo Boada is the Director Business Development at Yellowstone. He supports the the CIO and the President’s activities. He is also responsible for the analysis and exploration of new strategic opportunities and joint ventures for Yellowstone, as well as supporting deal negotiation for the Funds’ new investments and initiatives. He has 9 years of professional experience specialized in areas as project management, financial planning, finance modeling as well as the relationship with the investors and transaction negotiations. He has work in recognized Private Equity Funds as Ashmore CAF-AM Management Company y Nexus Capital Partners.
Ricardo earned dual degrees in Economics and Industrial Engineering from los Andes University and a Master’s degree in Economics and Management from The London School of Economics and Political Science.
Ricardo Boada
Director Business Development
Ricardo Boada is the Director Business Development at Yellowstone. He supports the the CIO and the President’s activities. He is also responsible for the analysis and exploration of new strategic opportunities and joint ventures for Yellowstone, as well as supporting deal negotiation for the Funds’ new investments and initiatives. He has 9 years of professional experience specialized in areas as project management, financial planning, finance modeling as well as the relationship with the investors and transaction negotiations. He has work in recognized Private Equity Funds as Ashmore CAF-AM Management Company y Nexus Capital Partners.
Ricardo earned dual degrees in Economics and Industrial Engineering from los Andes University and a Master’s degree in Economics and Management from The London School of Economics and Political Science.
Director Business Development

Julián Graciano
Director Legal Counsel
Julian Graciano is Legal Director at YELLOWSTONE and has 8+ years of professional experience in M&A and Corporate Law. He was legal director at a project company that was structuring a large-scale energy project, leading the structuring of all material investment agreements. He also worked for 6 years at Dentons Cárdenas & Cárdenas, a top tier law firm based in Colombia.
Julián earned his Law degree from Universidad del Rosario and his post-graduate degree in taxation from Universidad de los Andes.
Julián Graciano
Director Legal Counsel
Julian Graciano is Legal Director at YELLOWSTONE and has 8+ years of professional experience in M&A and Corporate Law. He was legal director at a project company that was structuring a large-scale energy project, leading the structuring of all material investment agreements. He also worked for 6 years at Dentons Cárdenas & Cárdenas, a top tier law firm based in Colombia.
Julián earned his Law degree from Universidad del Rosario and his post-graduate degree in taxation from Universidad de los Andes.
Director Legal Counsel

Adriana Duque
Manager Finance & Administrative
Adriana Duque is Manager Finance & Administrative at YELLOWSTONE, leading both, the firm’s and the Fund´s finance and administrative processes. She is the main point of contact with the Fund´s administrator operator and actively supports the Strategic & Legal and Investment teams guarantying that all the processes can developed under market’s high standards. Adriana has 8+ years of professional experience in finance and investment management administration. She was previously an Associate of the Private Wealth Management division at Citibank and previously worked at Grupo Sala as an Analyst.
Adriana is an Industrial Engineer from Universidad de los Andes in Bogota and earned an M.B.A. from the Pontifical Catholic University in Rio de Janeiro – Brazil.
Adriana Duque
Manager Finance & Administrative
Adriana Duque is Manager Finance & Administrative at YELLOWSTONE, leading both, the firm’s and the Fund´s finance and administrative processes. She is the main point of contact with the Fund´s administrator operator and actively supports the Strategic & Legal and Investment teams guarantying that all the processes can developed under market’s high standards. Adriana has 8+ years of professional experience in finance and investment management administration. She was previously an Associate of the Private Wealth Management division at Citibank and previously worked at Grupo Sala as an Analyst.
Adriana is an Industrial Engineer from Universidad de los Andes in Bogota and earned an M.B.A. from the Pontifical Catholic University in Rio de Janeiro – Brazil.
Manager Finance & Administrative

Juan Guillermo Guzmán
Manager Mixed-Use Investments
Juan Guillermo Guzmán is the Manager Mixed-Use Investments. He supports the Vice-President Investment Management and CIO activities. He is also responsible for controlling and monitoring both Class A – Mixed Use Core Retail and Class B – Large Scale Residential investment strategies. He has +8 years of professional experience specialized in financial, investments and project management areas. He has developed his professional career in the construction industry in companies such as Ospinas and Apiros and in the Oil & Gas industry in companies such as SNC-LAVALIN ITANSUCA.
Juan Guillermo is an Industrial Engineer of Universidad de los Andes in Bogotá with a Master´s Degree in Finance and a Financial Master’s Degree from the same university.
Juan Guillermo Guzmán
Manager Mixed-Use Investments
Juan Guillermo Guzmán is the Manager Mixed-Use Investments. He supports the Vice-President Investment Management and CIO activities. He is also responsible for controlling and monitoring both Class A – Mixed Use Core Retail and Class B – Large Scale Residential investment strategies. He has +8 years of professional experience specialized in financial, investments and project management areas. He has developed his professional career in the construction industry in companies such as Ospinas and Apiros and in the Oil & Gas industry in companies such as SNC-LAVALIN ITANSUCA.
Juan Guillermo is an Industrial Engineer of Universidad de los Andes in Bogotá with a Master´s Degree in Finance and a Financial Master’s Degree from the same university.
Manager Mixed-Use Investments

Pedro Andrés Sanchez
Manager Residential Investments
Pedro Andrés Sánchez is the Manager Residential Investments at Yellowstone. He actively supports Vice-President Investments and CIO activities. He is also responsible for controlling and monitoring of Class B – Large Scale Residential investment strategies. He has 9+ years of professional experience specialized in areas as project management, financial planning, corporate finance, finance modeling and capital markets. He has developed his professional career in the construction industry in companies such as Apiros, Ospinas and Pedro Gómez
Pedro has a Professional Degree in Finance and International Relations from Externado´s University and is a candidate for an MBA at Tecnológico de Monterrey
Pedro Andrés Sanchez
Manager Residential Investments
Pedro Andrés Sánchez is the Manager Residential Investments at Yellowstone. He actively supports Vice-President Investments and CIO activities. He is also responsible for controlling and monitoring of Class B – Large Scale Residential investment strategies. He has 9+ years of professional experience specialized in areas as project management, financial planning, corporate finance, finance modeling and capital markets. He has developed his professional career in the construction industry in companies such as Apiros, Ospinas and Pedro Gómez
Pedro has a Professional Degree in Finance and International Relations from Externado´s University and is a candidate for an MBA at Tecnológico de Monterrey
Manager Residential Investments

Maria Valencia
Analyst Investment Management
María Valencia is Analyst Investment Management at YELLOWSTONE. She supports the Residential Investments Director, VP Investments and CIO activities. She is also responsible for controlling and monitoring of Class B – Large Scale Residential investment strategies. She has 1 year of professional experience as investment analyst in a Real Estate Investment Fund specialized in financial planning, corporate finance and finance modeling.
María is an Industrial Engineer from Universidad de los Andes in Bogotá.
Maria Valencia
Analyst Investment Management
María Valencia is Analyst Investment Management at YELLOWSTONE. She supports the Residential Investments Director, VP Investments and CIO activities. She is also responsible for controlling and monitoring of Class B – Large Scale Residential investment strategies. She has 1 year of professional experience as investment analyst in a Real Estate Investment Fund specialized in financial planning, corporate finance and finance modeling.
María is an Industrial Engineer from Universidad de los Andes in Bogotá.
Analyst Investment Management

Daniela Gutierrez
Analyst Finance & Administrative
Daniela Gutiérrez is Analyst Finance & Administrative at YELLOWSTONE. She actively supports the Manager Finance & Administrative in the firm’s and the Fund´s finance and administrative processes, and the Strategic & Legal and Investment teams guarantying that all the processes can developed under market’s high standards. She has 1 years of professional experience as a project analyst in Atanor specialized in financial and strategy planning, financial modeling and monitoring Budget for Small and medium enterprises, and after, as a Product Analyst in Scotiabank Colpatria.
Daniela has a professional degree in Finance and international trade from Universidad del Rosario.
Daniela Gutierrez
Analyst Finance & Administrative
Daniela Gutiérrez is Analyst Finance & Administrative at YELLOWSTONE. She actively supports the Manager Finance & Administrative in the firm’s and the Fund´s finance and administrative processes, and the Strategic & Legal and Investment teams guarantying that all the processes can developed under market’s high standards. She has 1 years of professional experience as a project analyst in Atanor specialized in financial and strategy planning, financial modeling and monitoring Budget for Small and medium enterprises, and after, as a Product Analyst in Scotiabank Colpatria.
Daniela has a professional degree in Finance and international trade from Universidad del Rosario.
Analyst Finance & Administrative
Roberto Moreno
Investments Committee Member
Roberto Moreno is Co-Founder and President CEO at AMARILO GROUP, the leading Real Estate group in Colombia and one of the top-25 leading companies in Colombia. Mr. Moreno has 35+ years of experience in entrepreneurship, business leadership, and real estate development and investment in Colombia and the United States. Before starting-up AMARILO in 1993 he worked for 12+ years in Ft. Lauderdale, FL, USA for ANDES Realty and as Project Manager for MORCON Construction.
For the past 5 years he has been ranked by MERCO amongst the top-100 most influential and respected business leaders in Colombia. Mr. Moreno was born in Philadelphia, PA and studied at the University of Florida in Gainesville where he obtained degrees in Engineering Science & Economics and Building Construction & General Contracting.
Investments Committee Member
Eduardo Pizano
Investments Committe Member
Eduardo Pizano has 35+ years of professional experience in the public and private sector. He is currently the Dean of Universidad de los Andes School of Government and previously the President of the Colombian Association of Natural Gas – NATURGAS – since 2009. He is an independent consultant and as such has advised international and local companies including Cemex, Holcim, Carbones del Cerrejón, Sociedad Portuaria Regional de Catagena, and ETB. In the public sector he was Minister of Economic Development, General Secretary of the Colombian President and Senator. He is the representative in Colombia of Andean Strategic Consultants Corp.
Eduardo Pizano studied Law at Universidad de Los Andes in Bogotá, and has a M.P.A. from the Kennedy School of Government at Harvard University.
Investments Committee Member
Juan Guillermo Serna
Investments Committe Member
Juan Guillermo Serna has 35+ years of professional experience in the public and private sector across multiple industries. He was formerly VP of Finance for Corona Group, one the leading industrial conglomerates in Colombia, and CEO of Terpel, one of the largest distributors of Oil & Gas products in Colombia. He is currently a member of the Board of Directors of Avianca Holdings, Oleoductos de Colombia (OCENSA S.A), Inversiones GLP, Plexa S.A and he is a member of the editorial counsel for the Colombian business journal Dinero.
Juan Guillermo Serna studied Business Administration and Economics at Universidad Nacional de Colombia where he also earned a Master’s degree in Economics. He also obtained a degree for participating in the advanced program for organizational presidents at Universidad de los Andes in Bogota.
Investments Committee Member
Juan Guillermo Serna
Investments Committe Member
Juan Guillermo Serna has 35+ years of professional experience in the public and private sector across multiple industries. He was formerly VP of Finance for Corona Group, one the leading industrial conglomerates in Colombia, and CEO of Terpel, one of the largest distributors of Oil & Gas products in Colombia. He is currently a member of the Board of Directors of Avianca Holdings, Oleoductos de Colombia (OCENSA S.A), Inversiones GLP, Plexa S.A and he is a member of the editorial counsel for the Colombian business journal Dinero.
Juan Guillermo Serna studied Business Administration and Economics at Universidad Nacional de Colombia where he also earned a Master’s degree in Economics. He also obtained a degree for participating in the advanced program for organizational presidents at Universidad de los Andes in Bogota.
Investments Committee Member
Carlos Quintero
Investments Committe Member
Carlos Quintero has 35+ years of professional experience. He served as the CFO of Bavaria S.A. and Valores Bavaria S.A. one of the largest economic groups in Colombia dedicated mainly to beverages and investments. He was the President of Corredores Asociados, one of the biggest capital markets companies in Colombia. He has belonged to several boards of directors of important companies such as: Bavaria S.A., Bancoldex, Colseguros S.A, Propilco S.A, La Previsora Compañía de Seguros Generales S.A., Acerías Paz del Rio S.A amongst others.
Carlos Quintero studied Economics at Universidad de Los Andes in Bogotá.
Investments Committee Member
Aura Hurtado
Senior Advisor
Aura Hurtado is Vice-president and Corporate CFO at AMARILO GROUP since 2004. Mrs. Hurtado has over 35+ years of experience in corporate finance, senior management, and real estate. She pioneered the inception of the AMARILO GROUP Holding Company and heads all aspects of the Group’s corporate business plan and overall capital growth strategy. She currently leads a team of seasoned professionals that support the CFOs and financial leadership in operating companies in deal-making, capital investment insight, financial controlling, and tax advisory. Previously, she was head of financial operations at CONCONCRETO, the largest infrastructure developer in Colombia, where she successfully led a turnaround and financial restructuring process during the Colombian housing crisis.
Aura Hurtado studied Business Administration and earned degrees in advanced Finance at EAFIT University in Medellin.
Senior Advisor
Jaime Bermúdez
Senior Advisor
Jaime Bermúdez has 30+ years of professional experience in the public and private sector. For the last eight years he has served as President of MBA-Lazard Colombia, a leading global investment bank. In the public sector Mr. Bermudez served as advisor to the President, advisor to the Minister of Foreign Affairs, Colombian ambassador to Argentina, and Minister of Foreign Affairs. He has also served on the boards of directors of “Colombia es Pasión”, Proexport, Suramericana Investments and Technoquimicas and has authored and published two books: Colombia-Venezuela, a new bilateral structure and The Audacity of Power.
Jaime Bermudez studied law at Universidad de Los Andes in Bogotá and has a Ph.D in political sciences and a minor in public opinion from Oxford University.
Senior Advisor
Carlos Pizano
Senior Advisor
Carlos Pizano is an organizational consultant and entrepreneur with 40+ years of professional experience. In Mr. Pizano’s extensive consulting experience he has worked in the financial services, insurance, retail, legal, real estate, utility, infrastructure and automobile, agriculture, manufacturing, health care and non-profit sectors. He has served as the financial Vice President and Operations Vice President of the largest manufacturer of wood laminates in Colombia, and as Advisor to the President of Avianca. Mr. Pizano has served on boards of directors including Amarilo, Bio D, Cimento, Colpatria, Contract, Diseño Urbano, Editorial El Globo, Mineros de Antioquia, Mundial de Seguros and others. He has a passion and talent for effecting transformational change in the way that organizations are managed, mentoring of high impact entrepreneurs, and coaching boards of directors.
Carlos Pizano studied Mechanical Engineering and has a Master in Management from the Massachusetts Institute of Technology (MIT) in Boston.
Senior Advisor