Ecosystem Investment Partners

What Ecosystem Investment Partners does

Ecosystem Investment Partners (EIP) is a Baltimore-based private equity firm founded in 2006 that invests institutional capital in ecological restoration, primarily through mitigation banking, Pay for Performance contracts, and custom restoration solutions. EIP acquires degraded land, restores wetlands, streams, and species habitats, and either sells verified mitigation credits to developers and permittees or delivers fixed-price full-delivery restoration outcomes to government agencies whose projects trigger Clean Water Act Section 404, Endangered Species Act, and NPDES offset obligations. Named flagship assets include the 24,000-acre Mississippi and Superior Mitigation Bank in Minnesota, the 3,400-acre Lookout Slough tidal wetland project in California's Sacramento Bay Delta, the 1,000-acre Riverpark Mitigation Bank in Riverside County, and the Charles Etok Edwardsen Jr. Mitigation Bank on Alaska's Arctic Coastal Plain, with cumulative restoration exceeding 8,000 acres across nine U.S. states.

The firm operates three revenue streams: transaction-based credit sales to project developers and permittees; outcome-based Pay for Performance contracts with federal, state, and local government agencies; and professional services for custom restoration projects. Distribution combines direct enterprise sales led by managing directors and directors with channel partnerships (EarthBalance, McCollum & Sweetwater, Natural Resources Group) that resell credits in specific service areas. EIP has raised nearly $1.5 billion across five successive institutional funds (EIP II through EIP V) and reported $1.2 billion in assets under management as of December 2025, making it one of the largest dedicated ecological restoration investment platforms in the United States.

The business model is differentiated by operating in compulsory, regulatorily defined offset markets rather than voluntary carbon or biodiversity credit markets, giving it a non-discretionary demand profile tied to infrastructure and development activity. Management is led by three Managing Partners (Nick Dilks, Adam Davis, Heath Rushing) supported by five Managing Directors, six Directors, and two Senior Investment Analysts across offices in Baltimore, Boulder, and Sausalito. The firm has received industry recognition including the Agri Investor Global Natural Capital Fund Manager of the Year (2025) and the Environmental Law Institute Business Leadership Award (2023).

Name

Ecosystem Investment Partners

Legal name

Ecosystem Investment Partners, LLC

Website

https://ecosystempartners.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Ecosystem Investment Partners is a Baltimore-based private equity firm that invests in ecological restoration through mitigation banking, Pay for Performance contracts, and custom solutions, serving developers and government agencies required to offset environmental impacts under the Clean Water Act and Endangered Species Act.

Ownership category

akta.pro rank

Product category

Ecological Restoration Services

NAICS

Support Activities for Forestry (11531), Environmental Consulting Services (541620)

SIC

Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Wetlands, Peatlands & Mangrove Restoration (Blue Carbon Restoration) (EUABABAG)

akta.pro secondary industries

Ecosystem Services & Natural Capital Programs (Water, Biodiversity Credits, PES) (IMAMAJAK), Conservation, Restoration & Biodiversity Services (Habitat, Wetlands, Riparian) (IMAMAJAH), Conservation Easements & Land Trust Services (AFAMAMAH), Biodiversity Conservation & Habitat Banking (AFAMAMAC)

Keywords

• Mitigation banking services
• Ecological restoration solutions
• Environmental offset credits
• Wetland habitat restoration
• Pay for performance contracts

Headquarters

HQ city

Baltimore

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Mitigation Bank Credits: EIP acquires degraded land, restores wetlands and streams, and sells mitigation credits to developers who are legally required to offset environmental impacts under the Clean Water Act and related laws. Credits are sold to project developers to satisfy regulatory compliance requirements.
2. Pay for Performance Contracts: EIP provides full-delivery restoration solutions under fixed-price contracts. Customers pay only for measurable outcomes once achieved, not for activity along the way. EIP oversees every aspect from land identification to construction, management, and maintenance.
3. Custom Restoration Solutions: Tailor-made solutions for conservation and environmental challenges requiring specialized approaches. EIP works closely with customers to deliver creative solutions and ensure projects reach restoration goals.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Ecosystem Investment Partners acquires degraded land, restores wetlands, streams, and habitats, and sells verified mitigation credits to project developers who are legally required to offset unavoidable environmental impacts under Section 404 of the Clean Water Act and the Endangered Species Act. The firm also delivers full-service Pay for Performance restoration under fixed-price contracts where customers pay only for verified outcomes, plus custom restoration solutions for specialized conservation challenges across nine U.S. states.

Product overview

Ecosystem Investment Partners operates a unified platform of ecological restoration solutions consisting of three core service lines: Mitigation Banking (acquiring, restoring, and permanently protecting properties to generate mitigation credits), Pay for Performance (full-delivery restoration with payment upon verified outcomes using fixed-price contracts), and Custom Solutions (tailored approaches for specialized conservation challenges). The company also manages a portfolio of named mitigation bank projects across multiple U.S. states, including the Charles Etok Edwardsen Jr. Mitigation Bank in Alaska, the Mississippi & Superior Mitigation Bank in Minnesota, Riverpark Mitigation Bank in California, and Lookout Slough in California's Sacramento Bay Delta. These projects serve regulated developers who need to offset environmental impacts under the Clean Water Act and Endangered Species Act.

Differentiator

Problem solved

Functional benefit

Products and services

• Mitigation Banking

Quantifiable outcome

• 8,000+ acres of wetlands conserved and restored
• +4 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

28 partnerships are on record, tiered core and minor.

• The Conservation FundcoreStrategic or Co-development Partner · 1 January 2015National nonprofit that helped EIP accomplish a historic multi-party land exchange to assemble 24,000 acres for Lake Superior Mitigation Bank. The Conservation Fund acquired forestlands from Potlach Company and exchanged them for Sax Zim Bog from St. Louis County and Minnesota State, enabling EIP to purchase the property for restoration.
• Short Elliott Hendrickson (SEH)coreImplementation/ SI/ Consulting PartnerHeadquartered in St. Paul, MN, SEH's regional wetland specialists helped design and plan the 24,000-acre bog restoration in Northern Minnesota, contributing over 10,000 hours of design work.
• Midwest Amphibious EquipmentminorImplementation/ SI/ Consulting PartnerIntegral partner from the beginning of Minnesota work; managed construction of EIP's three Minnesota mitigation banks and handles sales of these mitigation credits.
• Cecil Land TrustcoreStrategic or Co-development PartnerConservation organization dedicated to permanent preservation of Maryland's farms, forests, water, and history. Partners with EIP to hold conservation easements on restored sites in Cecil County.
• Wetland Studies and Solutions Inc. (WSSI)minorImplementation/ SI/ Consulting PartnerProvides valuable regional support for EIP's national team in Chesapeake Bay area, bringing engineering expertise throughout the Mid-Atlantic region.
• McCollum & SweetwatercoreChannel Partner/ Reseller/ DistributorTrusted partner at Riverpark Mitigation Bank, bringing knowledge and experience in conservation of sensitive habitats; handles sale of EIP's credits for Riverpark Mitigation Bank.
• Helix Environmental PlanningminorImplementation/ SI/ Consulting PartnerTrusted partner at Riverpark Mitigation Bank providing technical archaeological resources and real-time data that drives decision making for restoration design.
• Hanford Applied Restoration & ConservationminorImplementation/ SI/ Consulting PartnerExceptional restoration specialist and partner at Lookout Slough and Riverpark; ability to see construction and regulatory efficiencies helps achieve project savings.
• River Focus Inc.minorImplementation/ SI/ Consulting PartnerTrusted advisor at Riverpark Mitigation Bank and California projects, bringing vast knowledge of water resource engineering and hydraulic modeling to advance projects.
• Mitchell ChadwickminorImplementation/ SI/ Consulting PartnerCalifornia law firm specializing in natural resource development that helped EIP navigate regulatory challenges at Lookout Slough.
• Beaver Creek HydrologycoreImplementation/ SI/ Consulting PartnerExpert team understanding complexities of Kentucky's stream and wetland restoration needs; one of the leading stream design firms that invented natural channel design software BANKWELL.
• Stream Restoration SpecialistsminorImplementation/ SI/ Consulting PartnerBased in Corbin, Kentucky; one of the best stream builders in the industry with construction team members from various backgrounds working with EIP on multiple projects.
• Hull and AssociatesminorImplementation/ SI/ Consulting PartnerBrings regional engineering, regulatory, and infrastructure experience to Ohio work, helping EIP mitigate past degradation and restore environmental health.
• Civil & Environmental Consultants Inc.minorImplementation/ SI/ Consulting PartnerPartnered with EIP applying vital local and regional expertise in stream ecology, design, and restoration across West Virginia.
• Appalachian Stream Restoration & Reclamation SpecialistsminorImplementation/ SI/ Consulting PartnerContributed key experience and regional knowledge to improve and preserve environmental health of Appalachia's streams and wetlands.
• Bluegrass Stream LLCminorImplementation/ SI/ Consulting PartnerLocal construction team using natural channel design techniques to help achieve long-term stabilization of restored stream beds.
• North State EnvironmentalminorImplementation/ SI/ Consulting PartnerShares EIP's approach to re-establishing structure and functionality of Appalachia's streams; tools and approaches helped bring projects from vision to completion.
• Rosscapes Inc.minorImplementation/ SI/ Consulting PartnerExperienced stream construction firm and trusted local partner helping navigate process in West Virginia.
• Greensource EnvironmentalminorImplementation/ SI/ Consulting PartnerLong history collaborating with EIP since beginning; conducted thorough evaluation of historical land use and delivered effective restoration plans for Florida projects.
• Environmental Science AssociatescoreImplementation/ SI/ Consulting PartnerCrucial partner at Lookout Slough working on design, entitlement, and restoration; provided hydrologic and hydraulic analyses and guided CEQA and NEPA permit processes.
• WRA Inc.minorImplementation/ SI/ Consulting PartnerEnvironmental consulting company specializing in biological assessments, entitlement, mitigation, and environmental restoration design; integral to navigating complex permitting at Lookout Slough.
• Aquic Stream and Wetland Mitigation StrategiesminorImplementation/ SI/ Consulting PartnerWorking with EIP since 2021 to identify and deliver mitigation solutions in Upper Midwest; provides operational support for Minnesota and Wisconsin banks.
• Natural Resources Group (NRG)coreStrategic or Co-development PartnerBank sponsor and long-term manager for Doolan Canyon Conservation Bank, responsible for regulatory entitlement, credit releases, and ongoing land management.
• Ukpeaġvik Iñupiat Corporation (UIC)coreStrategic or Co-development PartnerAlaska Native Corporation partnered with EIP to establish the Charles Etok Edwardsen Jr. Mitigation Bank, the first of its kind in the Arctic Coastal Plain Ecoregion. UIC owns the land; EIP covered permitting and design costs and established endowment.
• UMIAQ EnvironmentalminorImplementation/ SI/ Consulting PartnerSBA 8(a) subsidiary of UIC providing comprehensive environmental permitting and consulting services with expertise in remote locations.
• EarthBalancecoreChannel Partner/ Reseller/ DistributorImportant contributor to Florida project success; assists permittees and consultants obtain credits from Boran Ranch, Peace River, and Horse Creek Mitigation Banks.
• LandVest Land InvestmentsminorChannel Partner/ Reseller/ DistributorForestland broker that managed the sale of EIP's Appalachia Mitigation Banking Portfolio, launching process for assets in West Virginia, Ohio, and Kentucky.
• Mitigation Resources of North AmericaminorImplementation/ SI/ Consulting PartnerPartnered with EIP to deliver over 33,000 linear feet of stream mitigation to Upper Trinity Regional Water District for Lake Ralph Hall reservoir.

Scale indicators14 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Resource Environmental Solutions (RES): RES is the largest U.S. provider of ecological restoration and mitigation banking services, operating a national portfolio of stream and wetland mitigation banks. It is the closest direct competitor to EIP in scale, regulatory expertise, and government Pay-for-Success contracting.
• Westervelt Ecological Services: Westervelt operates a mitigation banking and habitat conservation business focused on compensatory mitigation credits for developers, with projects across multiple U.S. states. Directly comparable to EIP's mitigation banking product line and customer base.
• Mitigation Solutions USA: National mitigation bank sponsor and operator focused on stream and wetland credits sold to regulated developers under the Clean Water Act. Closely comparable business model and customer overlap to EIP.
• Wildlands Restoration / Wildlands Capital: Wildlands is a privately-held mitigation bank operator with projects across multiple states, generating compensatory mitigation credits for sale to regulated developers. Comparable in product, customer base and revenue model to EIP.
• Equilibrium Capital: Equilibrium is a natural capital private equity firm managing multiple funds across climate-smart agriculture, forestry and ecological restoration. Comparable as an institutional natural capital fund manager competing for similar LPs and restoration opportunities.

Broad incumbents

• Manulife Investment Management (Natural Capital): Manulife's Natural Capital group manages timberland and ecological asset portfolios with billions in AUM, including conservation and restoration strategies. Competes with EIP for institutional natural capital allocations and selected mitigation opportunities.
• Campbell Global: Campbell Global is a large-scale timberland investment manager owned by JLL, with adjacent expertise in forest ecosystem services and conservation. Overlaps with EIP in land-based natural capital investing and LP relationships.
• Brookfield Asset Management (Renewables & Transition): Brookfield's transition strategies include biodiversity, nature-based solutions and ecological restoration funds. A broader incumbent competing for institutional capital seeking natural capital exposure.
• The Nature Conservancy (NatureVest): NatureVest is the impact investing arm of The Nature Conservancy, structuring and investing in conservation finance transactions including mitigation banking and Pay-for-Success projects. Comparable mission and several overlapping counterparties.

Others

• The Conservation Fund: National nonprofit that acted as EIP's partner on the historic Sax Zim Bog land exchange enabling the Lake Superior Mitigation Bank. A longstanding strategic partner and adjacent conservation real estate investor — not a direct competitor, but a relevant counterparty ecosystem participant.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/ecosystempartners
• YouTubeyoutube.com/@ecosystempartners
• Facebookfacebook.com/EcosystemInvestmentPartners
• LinkedInlinkedin.com/company/ecosystem-investment-partners
• Instagraminstagram.com/ecosysteminvestmentpartners

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ecosystem Investment Partners