Ecosystem Investment Partners has closed its fourth fund at a hard cap of $454.5 million. The fund’s limited partners include pension funds, endowments, foundations, asset managers and family offices. Monument Group was the placement agent.
BALTIMORE and BOSTON, February 5, 2020 – Ecosystem Investment Partners (“EIP”), a leading private equity firm, today announced the final close of Ecosystem Investment Partners IV, L.P. (“EIP IV”). EIP IV was oversubscribed closing at its hard cap of $454.5 million. Monument Group, one of the industry’s leading placement agents, served as global placement agent again on the raising of the fund, which was oversubscribed, exceeding its target in less than 10 months. Consistent with EIP’s prior funds’ investment strategy, EIP will continue investing in large-scale wetland, stream and habitat mitigation and restoration projects in the U.S. through EIP IV.
EIP continued to receive strong support from its global, existing investor base, as well as garnering the backing of new limited partners, including pension funds, endowments, foundations, asset managers and family offices.
“We are very pleased to close EIP IV at its hard cap and to have raised the fund quickly,” said Nick Dilks, Managing Partner at EIP. “We believe that EIP has never been as well positioned to continue its targeted investment approach of delivering compelling outcomes for both investors and the environment through large-scale restoration activities. We thank our limited partners for their continued confidence in EIP.”
EIP was established in 2007 to make investments in ecological restoration and conservation projects at scale. These projects meet a large and growing demand for environmental offsets that mitigate unavoidable impacts to wetlands, streams, water quality and other important natural resources stemming from infrastructure, commercial, industrial and residential development. Additionally, EIP selectively undertakes investments that produce regionally significant restoration projects through Pay-for-Success contracts whereby the Firm delivers large-scale restoration to customers seeking fully-completed large-scale restoration at a fixed-cost.
EIP has a deep value-added network of public and private customers, natural resource agencies, domain experts, conservation organizations and local partners that provide positively differentiated market access and ability to deliver its product. EIP’s experienced team is capable of systematically sourcing and transacting on ideal properties EIP views as being located in attractive and diverse markets, while also providing the operational expertise that enables EIP to provide responsible ecological restoration and environmental stewardship outcomes across the U.S. In conjunction with the closing of EIP IV, “EIP has added additional talent to complement its already strong team with the hires of Kyle Graham (formerly Executive Director for Louisiana’s Coastal Protection and Restoration Authority), Glen Williams (formerly co-founder of Terra Firma Associates, LLC), Jaime Zsiros (formerly a manager at environmental consulting firms and a regulator with the St. Johns Water Management District in Florida), and Stephanie Freed (formerly an ecologist and project manager with leading environmental consulting firms),” according to Adam Davis, a Managing Partner with EIP.
“It has been a pleasure to work with the EIP team since the formation of their institutional funds a decade ago and we were delighted by the overwhelmingly positive reception towards EIP IV, which substantially reduced the time the team spent on the road formally marketing,” said Ryan Mueller, Partner at Monument Group. Mr. Mueller attributed EIP’s fundraising success to, “investors recognizing that EIP is the clear leader in an inefficient yet growing market, as well as being a portfolio diversifier with uncorrelated features that offers the potential to achieve compelling returns.” Concluding, Mr. Mueller said, “It is truly gratifying to be associated with EIP and we wish them continued success for many more decades to come.”
In addition to EIP IV, Monument Group advised EIP on raising its two prior institutional funds, Ecosystem Investment Partners III, L.P. ($303 million) and Ecosystem Investment Partners II, L.P. ($181 million).
Choate Hall & Stewart LLP provided fund formation counsel.
About Ecosystem Investment Partners
Ecosystem Investment Partners (EIP) specializes in large-scale ecological restoration. EIP delivers specific and measurable ecological outcomes through innovative and mitigation and restoration solutions tested over time, enabling both economic development and the restoration of vital ecosystems.
Since 2006, EIP has developed and managed 44 mitigation banks and large-scale restoration projects and transacted 107,355 acres – including 44,288 acres of wetland restoration and 176 miles of stream restoration. (https://ecosystempartners.com/)
*Statistics as of 9/30/2019
About Monument Group
Monument Group is an independent private fund placement agent managed by a senior team with significant buy-side investment heritage. Since its inception in 1994, Monument Group has assisted a range of general partners around the world to raise over 100 funds, totaling more than US $103 billion of equity. These clients represent a broad variety of investment strategies including buyouts, debt, distressed, energy and natural resources, growth, infrastructure and real estate. Monument Group has offices in Boston, London, Hong Kong and Tokyo. Monument Group also has a strategic alliance with boutique secondaries advisor Mozaic Capital. For more information on Monument Group’s primary and secondary capabilities, visit www.monumentgroup.com.