About
ERA Partners LLC is a private investment firm that seeks to invest in asset-rich operating businesses in North America
We partner with established family businesses and experienced operators to help scale companies that are delivering essential services which are integral to daily life. The firm aims to build enduring value through strategic partnership, operational improvements, and meaningful alignment.
Partnership Built to Last
ERA is led by co-founders Ryan Barnes, Matt Carbone, and Ed Leung (the “Founding Partners”) who have been investing together for over 18 years with a deep commitment to building businesses for sustained success. Since 2007, the Founding Partners have helped, collectively, to complete more than 150 acquisitions.*
*Includes the Pre-ERA Investments.
Sector Focus
With an emphasis on partnering with asset-rich businesses that provide essential services which are integral to North American lives, we strategically invest in the following sectors:
Focus Transportation & Logistics
Focus Digital Infrastructure
Focus Energy Transition & Power
Focus Environmental
Focus Other Essential Assets
ERA’s Infrastructure Characteristics
ERA focuses on infrastructure businesses that combine tangible asset ownership, essential services, and durable cash flow. In our view, these companies often exhibit strong barriers to entry, lower correlation to macroeconomic cycles, and built-in downside protection. By owning and operating these real asset-backed businesses – and pursing consolidation opportunities – ERA seeks to capture upside potential and create long-term value for our partners.*
Real Asset Ownership
Essential Services
Barriers to Entry
Lower Macroeconomic Correlation
Recurring Free Cash Flow
Downside Protection
*There can be no assurance that ERA will be able to implement its investment strategy or achieve its investment objectives.
Headquartered in San Francisco
ERA’s investment team leverages a research-driven approach to conduct due diligence on new investment opportunities, develop comprehensive operating plans, and provide strategic and operational oversight for portfolio companies following an acquisition.
Driven by Results
ERA manages $1.3 billion in assets under management across its funds.*
Our culture empowers a results-driven, forward-thinking, and entrepreneurial team united by a commitment to long-term value and shared success.
*As of August 2025.
Investing Together
ERA Partners was founded in 2018 by Managing Partners Ryan Barnes, Matt Carbone, and Ed Leung. With 18 years of shared investment experience, the ERA co-founders have built a firm grounded in partnership, collaboration, and transparency.
Investment Approach
We believe our knowledge of the market and experience transforming pre-institutional, often family-owned, businesses sets us apart. Guided by our foundational values of partnership and grit, ERA’s founding partners have invested together since 2007 and helped to build 17 enduring platforms in the North American lower middle market.*
*Includes the Pre-ERA Investments.
