Inspector Chávez, Demián Bichir, and his partner Dolores, Mónica Antonópulos, are called one summer night to the Recoleta residence of Jaime Figueroa Alcorta, a wealthy older gay member of Buenos Aires high society. There they meet a young officer named Gómez, Chino Darín, who says he found Alcorta’s body after investigating a noise complaint and who has been examining the dead man’s possessions.
The next day, in the police station, Chávez and Gómez cross paths again, and Gómez shows Chávez a matchbook from the Manila nightclub that he apparently took from the crime scene. Dolores and Chávez head to Manila in search of Kevin, Carlos Casella González, a lover who had left a message on the victim’s answering machine. Chávez watches a flamboyant performance of a song he recognizes from a record found at the victim’s apartment, and is approached by Gómez, who claims he’s also at the club to investigate. A heated confrontation erupts, and a bar fight breaks out, allowing Kevin to slip away amid the chaos.
Gómez joins Chávez on the homicide investigation, and they hatch a plan for Gómez to go undercover, using the younger man’s looks to get closer to Kevin. Gómez goes on several dates with Kevin, which makes Kevin appear innocent in the eyes of Gómez. Meanwhile, Chávez, who is trapped in a passionless marriage, finds himself increasingly drawn to Gómez, though he does not acknowledge or act on his attraction. Chávez tries to call off the sting, fearing Gómez is growing too close to the suspect, and Gómez questions whether Chávez is becoming jealous.
Later, Kevin takes Gómez to a room at Manila and they begin to have sex, but they are interrupted by Chávez and Dolores, who have been watching through a hidden camera. Kevin is arrested and taken into custody. Chávez later interrogates Kevin, who convinces Chávez to release him temporarily. Kevin then shows Chávez a herd of horses that he claims the Alcorta family uses for drug smuggling. Gómez arrives on the scene and fatally shoots Kevin as he tries to escape on horseback.
Chávez confronts Gómez, who insists he was only protecting Chávez and that Kevin invented the smuggling story. When Gómez makes a move to pull Chávez in for a kiss, Chávez reacts with a mix of anger and desire, aiming his gun at Gómez’s car. He is interrupted by the arrival of police backup. The city’s justice system moves to close the case under pressure from the Alcorta family, but Chávez discovers that the horses were surgically implanted with drugs, lending some credence to Kevin’s claims.
Chávez confronts Gómez with his theory that the Alcorta family orchestrated the murder, but Gómez pleads innocence. In a moment of heightened paranoia, Chávez even draws his gun on two fellow officers, realizing his grip on reality is slipping. Gómez reassures him, and the two share a kiss, though it is cut short by a gunshot to Chávez’s stomach, confirming Chávez’s suspicions about Gómez. As he sinks to the ground, Gómez tells him he will miss him. He then discards his gun, lights a cigarette, and walks off into the night.
