Conservation Equity Management Expands National Mitigation Banking Platform with Acquisition of Diversified Multi-State Portfolio

DALLAS and NACOGDOCHES, Texas, April 23, 2026 /PRNewswire/ -- Conservation Equity Management (CEM), a private equity firm co-founded by Kyle Bass and Terry Anderson that specializes in high-impact conservation investments, is pleased to announce its acquisition of a diversified national portfolio of mitigation banks—now expanding into mitigation markets in Florida, Illinois, and Alabama. CEM now holds 28 conservation assets spanning nine states across the American South, Midwest, and Mid-Atlantic.

The recent acquisition includes nine mitigation banks offering a blend of mature, revenue-generating assets and recently permitted projects with substantial credit inventories remaining. The banks include both wetland and stream mitigation assets strategically positioned to serve some of the nation's highest-demand environmental permitting markets. Collectively, the acquisitions encompass 5,734 acres of wetland habitat and 58,907 linear feet of stream under active conservation management.

Additionally, in March, CEM acquired the Straus Medina Mitigation Bank, a fully constructed stream bank in Bexar County, Texas. Located west of San Antonio, the bank encompasses approximately 36,950 linear feet of restored streams, protected in perpetuity by a conservation easement held by the Texas Land Conservancy.

Protecting Ecosystems at Scale

From wetlands to stream corridors, each conservation asset managed by CEM plays a meaningful role in preserving ecological function in regions facing sustained development pressure. All underlying mitigation acreage is permanently protected through perpetual conservation easements, and the portfolio's diversity—spanning multiple U.S. Army Corps of Engineers Districts across nine states—creates a resilient platform positioned to capture demand from ongoing residential, commercial, energy, and infrastructure development across high-growth markets throughout the region.

"Streams and wetlands are the connective tissue of healthy landscapes. When they are degraded, everything suffers: water quality, wildlife, and communities. Every bank in this portfolio is a commitment to reversing that damage permanently, and that is something worth building," said Terry Anderson, Co-Founder of Conservation Equity Management.

"The most compelling investment opportunities and the most pressing conservation needs often exist together. This acquisition expands CEM's reach across five new states and dozens of high-growth markets," said Kyle Bass, Co-Founder of Conservation Equity Management.

Explore the Most Recent Acquisitions

CEM has made available an interactive story map showcasing its most recent acquisitions. Each bank is presented individually within its ecological and market context.

View CEM's Newest Acquisitions Story Map: Story Map of CEM Newest Acquisitions

About Conservation Equity Management

Conservation Equity Management (CEM) is a private equity firm co-founded by Kyle Bass and Terry Anderson that specializes in conservation investments generating environmental, social, and financial returns. CEM structures and manages mitigation banking platforms across the United States, partnering with federal and state regulatory agencies, conservation organizations, and private landowners to protect and restore critical ecosystems.

For more information visit: www.cem-tx.com

About Ironwood Resource Advisors

Ironwood Resource Advisors is a specialized environmental credit brokerage and advisory firm focused on the marketing and sale of mitigation credits across the United States. Ironwood serves as the credit sales partner for CEM's mitigation banking portfolio, connecting developers and project sponsors with high-quality compensatory mitigation solutions.

For more information visit: www.ironwood-ra.com

Media Contact
Steele Schottenheimer
Managing Director – Investor Relations
[email protected] | 214-347-8045
https://www.cem-tx.com

Credit Sales Contact
Troy Madrigal
Principal – Ironwood Resource Advisors
[email protected] | 281-795-1469
http://www.ironwood-ra.co

SOURCE Conservation Equity Management, LP