Buenos Aires · Lima

Advising foreign
investors in Peru
and Argentina.

Two markets that reward patience, local knowledge, and the willingness to say no. We have advised foreign companies and institutional investors through every cycle — in Argentina since 1998, in Peru since 1999.

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About Orion

Local fluency.
Top-tier consulting rigor.

Orion Asociados was established in Buenos Aires in 1998. Since 1999 the firm has also been active in Peru. Our work is straightforward: we help foreign companies and institutional investors decide whether, how, and on what terms to enter these two markets — and we stay during implementation when clients want us to.

The discipline we bring is top-tier consulting: structured analysis, written record, decisions defended on the memo rather than the lunch. The execution is local: thirty years on the ground in Buenos Aires and Lima, conducted in Spanish, English, German, and Portuguese. In Peru and Argentina, the senior business community is small and personal. After three decades, we know it well.

What clients are paying for is a local, experienced, and disinterested party at the table. We are not dealmakers. We advise. The most valuable advice we have given — repeatedly — has been to not invest, or to walk away from a transaction the client wanted to do. That discipline is what we are paid for, and it is what has kept our client relationships intact across multiple cycles in two of the more demanding markets in Latin America.

1998
Active in Argentina since
1999
Active in Peru since
4
Working languages
AR · PE
Primary operating jurisdictions

Our Principles

Objectivity
Our compensation is not contingent on a transaction closing. We are paid to give the analysis the client needs, not the conclusion that makes us money.
Local Knowledge
Three decades of operating presence in Peru and Argentina. We know the regulators, the lawyers, the bankers, and the families that run most of the large companies. Most of these relationships are personal.
Discretion
We work with a small number of clients. All conversations — mandated or not — are treated as confidential. Our network is our principal asset, and we protect it.
Implementation
When clients want us to, we stay during implementation: interim country management, board representation, ongoing local oversight. The advisory does not end at the memo.

What We Do

Our Services

Orion advises foreign companies and institutional investors throughout the investment cycle. We work alongside top-tier local lawyers, accountants, and technical specialists — and our clients’ own teams — coordinating the moving parts and providing the objective view from the middle.

01
Market Assessment & Entry Strategy
Is entering Peru worth it? Is entering Argentina worth it? Decisions like these need a local, experienced, and disinterested party at the table. We assess the opportunity honestly, including the risks the client may not have priced. The recommendation is sometimes to wait, or not to proceed.
02
Acquisition & Investment Advisory
Finding the right local partners, acquisition candidates, or greenfield path. Target identification, buy/no-buy analysis, due diligence coordination, valuation work, deal structuring, and negotiation support. We coordinate; the client’s legal and financial teams execute.
03
Market Entry Architecture
Entity setup, regulatory registration, tax and incentive structure design, and coordination with provincial and national authorities. Includes RIGI eligibility and filing in Argentina where applicable.
04
Regulatory & Legal Coordination
Permitting, environmental compliance, labor law, sector-specific licensing. Orion manages the process and the relationships; vetted specialist counsel provides the formal advice.
05
Local Management & Operational Setup
Recruiting and vetting appropriate, vested local management. Acting as interim country manager, board representative, or operational anchor until the client’s permanent local team is in place. Financial and FX structuring, and ongoing oversight.

Sectors

What we
cover.

Orion is not a generalist. Our work concentrates in the sectors where Peru and Argentina have real comparative advantage — and where foreign capital actually deploys. Specific mandates are listed further down.

01
Energy, Mining & Natural Resources
Acquisitions, operational setup, regulatory work, and capital raises across upstream, downstream, refining, and mining services in Peru and Argentina.
Downstream energyRefiningMiningVaca Muerta
02
Infrastructure & Industrial Services
Market entry, acquisition advisory, and operational setup for foreign companies in heavy industry, building materials, logistics, and transport.
CementLogisticsTransportMarket entry
03
Agribusiness, Food & Consumer
Buy-side due diligence and direct investment in consumer-facing businesses across retail, wholesale distribution, food production, and agribusiness.
Consumer & retailFishmealFood ingredientsDairy & malting
04
Healthcare, Pharma & Regulated Industries
Direct operating depth in Peruvian and regional pharmaceutical distribution. Founding investor and Director of a regional regulatory affairs consultancy with operations across three countries — built originally as a spin-out of a pharmaceutical importer-distributor we founded, operated, and exited. Buy-side and market-entry mandates for international pharmaceutical principals.
Pharma distributionRegulatory affairsLife sciencesFounding investor & director
05
Digital Platforms & Regional Ventures
Sponsor and Director of country-level subsidiaries in the regional rollout of a Latin American AI-platform venture, building content-engine products for Spanish-speaking and underserved language markets. Raising local capital and acting as the senior local presence on each board. Prior internet-venture exits in the Southern Cone.
Platform venturesAI & content enginesCountry sponsorshipBoard governance

Argentina

Moving in the
right direction.

After two decades during which most large foreign investors disengaged, Argentina is again open for business. The 2024 RIGI framework offers thirty years of fiscal, customs, and currency stability to qualifying projects above defined thresholds. The Super RIGI announced in May 2026 extends the same logic to value-added industrial sectors — battery manufacturing, electric vehicles, solar and wind components, refining and rolling, data centers — that had effectively never existed at scale in the country.

The underlying assets are real: world-class lithium and copper reserves now becoming commercially viable, the Vaca Muerta hydrocarbon basin, a deep industrial base (automotive, nuclear, satellites), and a workforce that has consistently exported senior management talent to global companies. None of this is new. What is new is a policy framework that, for the first time in a generation, makes long-cycle foreign capital deployable on terms a board can defend.

For foreign companies that have not looked seriously at Argentina in years, the question is no longer whether to look but how. Orion’s role is to help foreign companies and institutional investors decide whether to step in, on what terms, and through what local architecture.

Peru

Quietly compounding
for thirty years.

Peru has been the steadier of the two markets for a generation. A 35-million-person economy with disciplined macroeconomic management, a well-located Pacific coast, and natural endowment across mining, hydrocarbons, fisheries, and premium agriculture. Copper, gold, zinc, and lithium on one side; avocado, blueberry, citrus, table grape, and fishmeal exports on the other. Few emerging markets combine that breadth with this level of macro stability.

Logistics is changing the equation. The Chancay megaport, operational since late 2024, is reshaping Pacific trade flows. Corío, the proposed southern megaport in Arequipa, is moving through technical viability in 2026. Whatever the eventual phasing, Peru is consolidating its position as Latin America’s Pacific gateway — with second-order implications for industrial real estate, processing, and value-added agro-export.

Political volatility is a fact of life. Macroeconomic policy has been an island of continuity around it. For foreign investors with the patience to look past the headlines, Peru continues to be one of the most accessible and rewarding markets in the region.

Senior Advisors

The people
behind the work.

Orion is a small firm. Two senior advisors carry the weight of client engagements directly, with vetted local specialists brought in on specific mandates. We list named credentials because foreign investors are entitled to know who they are working with.

Founder & Managing Partner
Mario Köhler
Co-founder of BCG’s Buenos Aires office and Practice Lead, Capital-Intensive Industries; previously with BCG Munich. Established Orion in 1998 and has advised foreign companies and institutional investors on entry, acquisitions, exits, and operational setup across energy, mining, agribusiness, retail, pharma, and technology in both Argentina and Peru. Has founded and exited operating businesses in Peru in the pharmaceutical distribution and beer-ingredients distribution sectors, and led the acquisition and post-acquisition management of a Peruvian refinery as its President. Founding partner of SCR Consultings, a regulatory affairs consultancy with operations in Peru, Bolivia, and Chile. Works in Spanish, English, German, and Portuguese.
Senior Advisor · Legal & Regulatory
Christian Schroeder
Three decades of senior legal and regulatory experience in Peruvian and Latin American mining, energy, and power. Most recently regional legal head for Latin America at one of the world’s largest gold miners, with operations in Argentina, Mexico, Peru, Chile, and Suriname. Earlier in-house legal leadership roles in Peru with major international energy and power companies. Brings direct working knowledge of permitting, regulatory negotiation, and legal architecture across the jurisdictions in which Orion operates.

Track Record

Selected mandates.

A representative sample of work executed since 1998. Some engagements ended in transactions, some in walked-away deals, some in operating businesses we built, ran, and eventually sold.

EnergyArgentina
Lead local advisory — downstream energy acquisition bid
Acting as lead local representative for a US private equity firm, Orion managed the full acquisition process for one of Argentina’s largest downstream energy companies, with operations spanning fuel distribution, logistics, and retail. The bid was structured to resolve substantial government tax liabilities through a proposed settlement negotiated directly with federal authorities. The process concluded when the government rejected the proposed settlement structure.
EnergyPeru
Refinery acquisition, post-acquisition restructuring, and management
Negotiated the acquisition of a Peruvian refinery for a private investor group, then served as President: restructured the company post-acquisition, hired the management team, and ran the operation through a multi-year cycle. Separately, developed the business plan and managed all regulatory permits for a major fuel terminal in Chile.
ResourcesArgentina
Capital raise advisory — Vaca Muerta supply chain
Advised an Argentine developer on raising capital to fund due diligence of local sand adequacy for upstream fracking applications. The developer had secured land rights, exploration infrastructure, and equipment prior to engagement.
ConsumerPeru
Buy-side due diligence — six market-leading targets
Conducted full buy-side due diligence for private equity investors on six leading Peruvian companies: a top-three fishmeal producer, the country’s leading homeware retailer, the largest supermarket chain, the largest non-perishable consumer goods wholesaler, the leading food ingredient wholesaler, and the largest iron producer. Two of the targets transacted during the engagement window; the others did not, but were subsequently acquired by other buyers in later years.
InfrastructureLatin America
Market entry advisory — global cement manufacturer
Developed market entry strategy and conducted full acquisition due diligence across two Latin American markets for a leading global cement manufacturer. Two plants were acquired in one market; an import strategy was developed in the second.
LogisticsArgentina
Transport & warehouse infrastructure — buy/no-buy advisory
Evaluated and provided strategic recommendations on large-scale long-distance transport operators and regional warehouse park investments.
AgribusinessArgentina
Dairy, malting & land-banking — USD 120M+ evaluated
Due diligence on proposed investments in Argentine dairy, malting, and land-banking businesses totaling over USD 120 million. Most proposed transactions were not recommended on risk-return grounds. Within the same mandate cycle, identified and co-invested in a brewing-malt production facility that performed well over its hold period.
Pharma & DistributionPeru
Founded and exited two distribution businesses
Founded a pharmaceutical importer and distributor in Peru and sold the business to one of the international pharmaceutical companies it represented in Peru. Separately, founded a Peruvian beer-ingredients distribution business and exited to a competitor. Both businesses operated profitably through their hold periods.
TechnologyArgentina
Internet ventures — advisory and exit
Advisory, fundraising, and sponsorship of internet-based businesses in Argentine construction, marketplace, and services sectors, concluding with a strategic exit and capital gains for early investors.

Begin the Conversation

Is Peru or Argentina the right move?

We offer an initial, confidential conversation to foreign companies and institutional investors considering market entry or specific transactions in either country. A direct discussion about whether the opportunity is real for your situation — and whether we are the right firm to help.

Buenos Aires · Lima
Spanish · English · German · Portuguese
Response within 48 hours
All enquiries strictly confidential