LYON BERN

The firm operates under Puerto Rico’s Act 60, which offers significant tax incentives on interest, dividends, and capital gains for qualifying resident investors. This allows LYON BERN to structure co-investment vehicles where after-tax returns compound more efficiently than through a typical mainland US family office, making it particularly attractive for tax-sensitive co-investors targeting real estate and private credit income streams.

LYON BERN prefers direct deals and co-investment structures over blind-pool fund commitments. The firm originates real estate acquisitions, structured credit opportunities, and private equity placements, then syndicates participation among a curated network of family offices and high-net-worth co-investors. This model keeps the principal-agent dynamic tightly aligned and gives limited partners deal-by-deal discretion and transparency.

The firm deploys capital across two primary corridors: the US mainland, with an emphasis on Sunbelt and Southeast real estate markets, and the Caribbean Basin, where it participates in private credit and structured debt transactions. Select Latin American markets round out the geographic footprint, though the US remains the dominant allocation destination.

Managing Partners Ricardo Lyon and Federico Bern jointly oversee investment origination, underwriting, and portfolio construction. The partnership structure concentrates decision-making within the two founding principals, consistent with the lean governance model of a family-led investment office. No external investment committee or third-party discretionary manager is involved.

The firm originates the majority of its deals directly, leveraging the principals' networks across US and Latin American real estate and credit markets. LYON BERN does not function as a fund-of-funds or allocator to external GPs in a conventional sense. When the firm does participate alongside institutional sponsors, it negotiates co-investment side letters rather than committing capital through commingled fund vehicles.