León Barrena Rodríguez & Equity Partners (“LBR&EP”) is a private equity platform specializing in management services organizations (MSO) opportunities, with a dedicated focus on the legal, accounting, and government affairs sectors of the professional services industry across North American markets.
Through its permanent capital vehicle, LBR&EP will buy, hold, and incubate professional services firms, complemented by active involvement in AI-rollup transactions across the industry.
Who we are
LBR Equity Partners’ with outstanding management teams, seeking to grow their practices to drive transformational change through strong partnerships. We partner with some of North America's leading teams and firms, providing them with permanent capital, intrinsic value or equity-related instruments through minority or majority stakes.
LBR&EP works with founders and management teams to enhance growth and reach of leading firms across North American markets. Our focus is to seek clear opportunities to add value through; Organic Growth, Strategic M&A and Operational Improvement.
As we bring resources from a mixture of financial, deep sector experience, IP and a true commitment to building the businesses that uphold tomorrow’s economy.
We have developed a differentiated approach to an alternative investment strategy based on innovation, organic growth, and a culture of openness and collaboration. Where we can, we guide companies' management teams to raise their ambitions, and support innovations that lead to an elevated human society. We focus on three distinct investment strategies: Growth Equity, Opportunistic Opportunities, and Co-Investments.
Copyright © 2026 León Barrena Rodríguez & Equity Partners, León Barrena Rodríguez & Partners, Morgans and/or affiliates (“LBR”).
Quiénes Somos
LBR Equity Partners se asocia con equipos directivos de excelencia, que buscan expandir sus prácticas y generar un cambio transformacional a través de alianzas sólidas y estratégicas. Nos asociamos con algunos de los equipos y firmas líderes de Norteamérica, proporcionándoles capital permanente, valor intrínseco o instrumentos relacionados con equity a través de participaciones minoritarias o mayoritarias.
LBR&EP colabora con fundadores y equipos directivos para potenciar el crecimiento y el alcance de firmas líderes en los mercados de Norteamérica. Nuestro enfoque consiste en identificar oportunidades claras de creación de valor mediante: Crecimiento Orgánico, Fusiones y Adquisiciones Estratégicas, y Mejora Operativa.
Aportamos un conjunto de recursos que combina expertise financiero, conocimiento profundo de sectores específicos, propiedad intelectual y un compromiso genuino con la construcción de negocios que sustentan la economía del mañana.
Hemos desarrollado un enfoque diferenciado de estrategia de inversión alternativa, basado en innovación, crecimiento orgánico y una cultura de apertura y colaboración. Siempre que es posible, guiamos a los equipos directivos de las compañías para elevar sus ambiciones y respaldamos innovaciones que contribuyen a una sociedad humana más avanzada. Nos enfocamos en tres estrategias de inversión diferenciadas: Equity de Crecimiento, Oportunidades Oportunistas y Coinversiones.
LBR&EP’s Differentiation
Deep Relationships
Existent GP relationships and core GP relationships with high quality managers
AI-first infrastructure
Proprietary AI-powered infrastructure that drives superior deal sourcing, due diligence, portfolio monitoring, and operational efficiency.
Efficient Deployment and Liquidity
Rapid expected deployment putting cash to work and efficient cash management aiming to offer liquidity to investors
Disciplined Thematic Investment Strategy
A rigorous, research-driven approach focused on high-conviction thematic opportunities with clear value creation pathways.
Managing Operations in-house
LBR&P and LBR&EP manages operations in-house across more than 3 countries, allowing for OPEX reduction of up to 70%
Investor-First Model
A governance and economic structure explicitly designed to align with and prioritize investor returns and long-term interests.
LBR&EP North American Professional Services I (“LBR&EP PSNA I”) Fund Terms
1
General Partner (GP)
LBR GP I, LLC.
2
Management Company & Fee
LBR Equity Partners, LLC. & 1.5%
3
Fund Currency
USD
4
Minimum Investment
Minimum Capital Contribution of USD $25,000 +
5
Initial Fee (setup)
None
6
Carried Interest
The General Partner shall be entitled to a carried interest equal to 15% of the Fund’s profits after the Limited Partners have received a preferred return of 8% per annum, subject to a 50/50 catch-up.
Fund Expenses
7
The fund third-party fees incurred in connection with fund deal structuring, legal and advisory services, finder’s fees, and origination fees
8
Capital Calls
Quarterly in advance, target to mirror LBR&EP PSNA I's capital calls.
9
Tax Status
Under the proposed structure, the Fund is proposed to be structured in US that will be treated as a tax-transparent partnership for U.S. federal income tax purposes. For full details regarding the tax treatment of the Fund and its investors, please refer to the Private Placement Memorandum.
10
Other Charges
Under the proposed structure, the Fund is proposed to be structured in US that will be treated as a tax-transparent partnership for U.S. federal income tax purposes. For full details regarding the tax treatment of the Fund and its investors, please refer to the Private Placement Memorandum.
Traditional Fund Terms
Traditional General Partner (GP)
Traditional fund typically a third-party or sponsor GP with limited transparency
Management Company & Fee
2%
Fund Currency
USD
Minimum Investment
Minimum Capital Contribution of USD $250,000
Initial Fee (setup)
Varies
Carried Interest
20%
Fund Expenses
Broad range of expenses passed through to investors, including acquisition, due diligence, legal, advisory, exit transaction costs, and multiple layers of finder’s/introducer fees
Capital Calls
Comparable frequencies are generally highly variable and deal-driven, depending on the specific fund structure and type, with advances frequently provided as needed
Tax Status
Varies by fund structure. Most private funds are structured as pass-through entities. Please refer to the fund’s offering documents.
Other Charges
LBR&P (León Barrena Rodríguez & Partners) and LBR&EP (León Barrena Rodríguez & Equity Partners) are separate and distinct businesses. LBR&P operates the professional services business of the platform. The operations maintain independent governance structures, engage in distinct lines of business, and perform separate and independent functions.
Each business conducts its activities under its own legal, regulatory, and fiduciary framework, ensuring clear delineation of roles, responsibilities, and accountability. This separation is fundamental to the platform’s design and is maintained at all times to preserve the independence and integrity of both the professional services and equity operations.
Additional fees frequently charged for various services, amendments, or transactions