Zero-shot referring expression comprehension aims at localizing bounding boxes in an image corresponding to provided textual prompts, which requires: (i) a fine-grained disentanglement of complex visual scene and textual context, and (ii) a capacity to understand relationships among disentangled entities. Unfortunately, existing large vision-language alignment (VLA) models, e.g., CLIP, struggle with both aspects so cannot be directly used for this task. To mitigate this gap, we leverage large foundation models to disentangle both images and texts into triplets in the format of (subject, predicate, object). After that, grounding is accomplished by calculating the structural similarity matrix between visual and textual triplets with a VLA model, and subsequently propagate it to an instance-level similarity matrix. Furthermore, to equip VLA models with the ability of relationship understanding, we design a triplet-matching objective to fine-tune the VLA models on a collection of curated dataset containing abundant entity relationships. Experiments demonstrate that our visual grounding performance increase of up to 19.5% over the SOTA zero-shot model on RefCOCO/+/g. On the more challenging Who’s Waldo dataset, our zero-shot approach achieves comparable accuracy to the fully supervised model