We are

An investment portfolio of a Costa Rican family group with more than 100 years of doing business.

We develop

Business systems that generate value for our stakeholders, seeking to contribute to the development of industries, society and the countries where we invest.

We seek

To preserve capital for our investors in the long term, through diversified investments, with sustainable impact and in alliance with partners who share our values.

Our values

Our values come from our founding families

Humbleness

 Responsibility

Respect

Authenticity

Courage

Commitment

Our way of doing business

We seek to generate value in our investments through:

Our family values

Patient capital with a long-term vision

With discipline and strategic rigor combined with disruptive thinking

Leveraging our extensive global network of partners

As active investors in investment governance

Looking for sustainable investment involving ESG criteria in our investments

Executive Team

  • Managing Director of Cuestamoras as of September 2020. He is responsible for the investment portfolio and leads the executive team.

    Before joining Cuestamoras, Reynaldo worked for 16 years at Mesoamerica, a Latin American “boutique” with private equity, mergers and acquisitions, and strategy consulting practices. Reynaldo took part in transactions summing up US$4,000M, projects in over 10 countries, and led Bogota’s offices for over 11 years. Before joining Mesoamerica, Reynaldo worked for Procter & Gamble and Hanes Underwear. He is an industrial engineer from the Instituto Tecnológico de Santo Domingo and holds an MBA degree from INCAE Business School.

    He is passionate about wine and endurance sports. Reynaldo has studied as a sommelier and has completed multiple Ironmans and ultramarathons.

  • Raquel is responsible for the areas of Strategy, Investment Banking and New Business Development.

    Before joining Cuestamoras, she established Capital & Advice, an Investment Banking firm part of Grupo Promerica, one of the largest conglomerates in Central America and the Caribbean. In that role, she led a pipeline for more than USD $1,000M.

    In addition, Raquel was a banker for more than a decade in New York for Goldman Sachs and J.P. Morgan Chase. Finally, Raquel is part of the Executive Committee of the GSG Impact Investment Chapter for Central America and a member of the Board of Directors of CINDE.

    Raquel has a BBA from the Ross School of Business at the University of Michigan and an MBA from the Columbia Business School. She is a published author for the United Nations and the Earth Institute. She lives in Costa Rica with her husband and her two children.

  • Ricardo has been the Financial Director since January 2022 and has worked in the organization since 2013.

    Before joining Cuestamoras, he worked for 5 years at Aureos Capital, a Private Equity fund manager focused on investments in small and medium-sized companies in Asia, Africa and Latin America. He worked for 5 years at Unisys Corporation doing Research and Development in the semiconductor industry in Costa Rica and the United States. He is a mechanical engineer from the University of Costa Rica, has an MBA from INCAE, and obtained the Chartered Financial Analyst certification from the CFA Institute.

    Ricardo enjoys spending time with his wife and two daughters in his spare time.

  • Manuel has been Director of Cuestamoras since August 2014. He is responsible for the areas of Legal, Compliance, Risk, Corporate Affairs and the Family Office.

    Before joining Cuestamoras, Manuel worked for 5 years at the prominent regional law firm Consortium Legal, advising local, regional and transnational financial entities, leading cross-border transactions, as well as various mergers and acquisitions processes in the Central American region. Prior to working at the law firm, he worked at Walmart leading special projects and the implementation of legal counseling for financial services in the region. He got a law degree from the Autonomous University of Central America and has a GEMBA from EAE Business School.

    He is a member of the board of directors of regulated financial entities, husband, father of 3 and passionate about swimming and running.

  • Paula has been Chief of Staff at Cuestamoras since March 2022. She is in charge of managing the strategic projects of the investment portfolio and is responsible for the Talent and Sustainability areas.

    Before joining Cuestamoras, she worked for 2 years managing the assets of a university, which included a ~$150M endowment, real estate assets (~5,000ha of land) and an agricultural business. Prior to this, she worked for 5 years in a Private Equity firm and participated in raising and managing a ~$300M fund for the Pacific Alliance countries.

    She is a mentor for Vital Voices, an NGO that promotes female leadership, a wife and mother of 2 girls, and a lover of gastronomy and running.

Board of Directors

  • Alberto has been Chairman of the Board of Directors of Cuestamoras since 2022 and has been a director since 2007. He is a faculty member of INCAE Business School, where he has also held the role of Dean. He has also been part of the faculty of Northwestern University and the University of Michigan.

    He participates in the various governance forums of Grupo Financiero BAC Credomatic in Costa Rica since 2002. He is a partner of the consulting firms CEFSA and DRP. He was Minister of Foreign Trade of Costa Rica, one of the original members of the Financial System Oversight Council, and President of the Coalition of Development Initiatives (CINDE).

    He is one of the founding directors of the Brenthurst Foundation of South Africa and of the advisory board of the New York University School of Public Health. He chaired the Arias Foundation for Peace and Democracy and has been a judge in international conflicts before the World Trade Organization.

  • David Arturo is Vice Chair of the Board of Directors of Cuestamoras since 2022 and director since 2019. In the last 8 years he has been the "Trusted Advisor" of many families in the region in matters of business strategy and investments. David Arturo is a partner at Consortium Legal, a Central American law firm, through which he led much of the consolidation of the Central American banking industry over the past 30 years. He has also been a director of multiple financial institutions such as Citibank, Scotiabank, Lafise, among others.

    David Arturo has been involved throughout his life in education themes. He has been a visiting professor at INCAE Business School and is the founder of ADA (Amigos del Aprendizaje), an NGO that seeks to improve children's learning opportunities through purposeful reading and writing.

  • Rodrigo is the Founding Director of Cuestamoras. He was President from 2010-2022. Prior to the creation of Cuestamoras, he was CEO of Corporación Supermercados Unidos for +25 years, a company that was acquired by Walmart in 2008 and then served as President of Walmart Central America. He is Director of LEAD University and PF Changs.

    He is also President of Horizonte Positivo, a non-profit association that seeks to project hope, promote integration, trust and national unity in Costa Rica. He has been part of the Advisory Committee of the Rectory of INCAE and is a member of YPO Costa Rica. He was recognized as a Distinguished Graduate of INCAE in 2013 and as Businessman of the Year by El Financiero of Costa Rica on several occasions.

  • Carlos Manuel is the Founding Director of Cuestamoras. He was Vice President of the Board of Directors from 2010-2022. He has been a Director in several businesses such as Walmart Central America and member of the Board of Directors of Corporación de Supermercados Unidos for more than 25 years.

    The conservation of the planet and sustainable development have been one of his great passions, leading multiple efforts, which is why he was recognized as "Crusader of the Year" in 2019 by the Crusa Foundation. He is also President of the Board of Directors of Fundación Amigos de la Isla del Coco (FAICO), a foundation that began in 1994 that seeks to contribute to the effective management of marine conservation on Isla del Coco and its surrounding ecosystems; he was a member of the Board of Directors of the Costa Rica por Siempre Association and a founding member of the Marviva Association in Costa Rica.