The trifunctional P/B/B frustrated Lewis pairs 11a–c featuring bulky aryl groups at phosphorus [Dmesp (a), Tipp (b), Mes* (c)] were synthesized. Compounds 11a,b react with carbon monoxide and form the macrocyclic dimers 17a,b, while the carbonylation reaction of the Mes*P/B/B FLP 11c gives the macrocyclic trimer 18c.