Dedicated to preserving the future of our land through thriving ecological investments.
Based in Dallas and Nacogdoches, Texas, with 14 team members and strategic partners on the ground throughout the country.
CEM has formed an Industry Advisory Board of three of the top environmental sustainability professionals in the world. They provide invaluable expertise and insight to CEM’s investment process. CEM collaborates with our Industry Advisory Board members and leverages their extensive environmental knowledge base.
EXECUTIVE TEAM
J. Kyle Bass
Terry Anderson
Tamara Wood
Jeffrey J. Knowlton
Steele D. Schottenheimer
Quinn McColly, PhD
Brody Capps
Stuart T. Smith
J. Kyle Bass
Brennan Bilberry has served as a political and communications strategist for politicians, governments, investment firms, startups, and NGOs around the world. At Fairmark, he advises clients on public policy and strategic communications. Brennan previously was a Partner and the Head of Public Affairs at The Messina Group, where he implemented winning, data-driven communications and advertising strategies on five continents. His work included overseeing environmental public policy campaigns in numerous countries, providing international political intelligence for US investors, advising winning political campaigns around the world, and designing and implementing consumer advertising and court-mandated legal advertising. In 2013, Brennan served as Communications Director for Terry McAuliffe’s successful campaign for Virginia governor, overseeing tens of millions in paid media. In the 2012 presidential election, Brennan was Deputy Executive Director of Priorities USA, the pro-Obama Super PAC, responsible for developing the messages and nearly $100 million in paid media defining Mitt Romney in battleground states. Prior to that, he worked for two election cycles in communications and research at the Democratic Congressional Campaign Committee. Brennan received his bachelor’s degree from Harvard College with a degree in Government after growing up in Montana and South Dakota.
J. Kyle Bass is a Co-Founder and Chief Executive Officer of Conservation Equity Management, an environmental sustainability private equity firm founded in 2021. Bass is an avid landowner and conservationist in the state of Texas since 2003. He is also the Founder and Chief Investment Officer of Hayman Capital Management, an investment manager of private funds focused on global event-driven opportunities.
Mr. Bass is a Life Member of the Council on Foreign Relations and the recipient of the 2019 Foreign Policy Association Medal for his responsible internationalism. Mr. Bass has testified as an expert witness before the U.S. House of Representatives, U.S. Senate, and the Financial Crisis Inquiry Commission.
Mr. Bass has spoken on global economics, national security, geopolitics, and the architecture of the Chinese financial system at various universities, including Columbia, Yale, Harvard, Stanford, UC Berkeley, University of Chicago, University of Texas, and the University of Virginia. Mr. Bass is the former Chair of the Risk Committee of the Board of Directors of the University of Texas Investment Management Company (UTIMCO), which manages approximately $75 billion.
Formerly, he was a Managing Director at Legg Mason and a Senior Managing Director at Bear Stearns. He graduated from Texas Christian University with a degree in finance. Bass is an Advisory Board member of the Hudson Institute's China Center, an Executive Advisory Board member of the George W. Bush Presidential Center, and an Investment Advisory Board member to RIA NewEdge Wealth. He also serves on the boards of the Texas Wildlife Association Foundation, Texas Department of Public Safety Foundation, and Melinda’s Foods.
Terry Anderson
Brennan Bilberry has served as a political and communications strategist for politicians, governments, investment firms, startups, and NGOs around the world. At Fairmark, he advises clients on public policy and strategic communications. Brennan previously was a Partner and the Head of Public Affairs at The Messina Group, where he implemented winning, data-driven communications and advertising strategies on five continents. His work included overseeing environmental public policy campaigns in numerous countries, providing international political intelligence for US investors, advising winning political campaigns around the world, and designing and implementing consumer advertising and court-mandated legal advertising. In 2013, Brennan served as Communications Director for Terry McAuliffe’s successful campaign for Virginia governor, overseeing tens of millions in paid media. In the 2012 presidential election, Brennan was Deputy Executive Director of Priorities USA, the pro-Obama Super PAC, responsible for developing the messages and nearly $100 million in paid media defining Mitt Romney in battleground states. Prior to that, he worked for two election cycles in communications and research at the Democratic Congressional Campaign Committee. Brennan received his bachelor’s degree from Harvard College with a degree in Government after growing up in Montana and South Dakota.
Terry Anderson is a Co-Founder and Principal of Conservation Equity Management, LP. Anderson also is the Founder and Principal of Conservation Equity Partners, LLC, a company specializing in natural resources, ecological services, and land management, formed in February 2018.
Anderson received a Bachelor of Science in Forestry with an emphasis in Wildlife Management from Stephen F. Austin State University in 1991 and has spent the last 30 years working in the private sector of the natural resource field. Until 2018, Anderson was Co-Owner and President of Advanced Ecology, LLC, and a series of affiliated support companies comprised of foresters, ecologists, GIS specialists, real-estate developers, and marketers working with land, water, and wildlife resources through traditional approaches and creative enterprises.
Working with landowners, private equity groups, venture capitalists, state and federal regulators, realtors, and land trusts, Anderson focuses most of his time and energy on developing integrated conservation and mitigation projects. Over his career, Anderson has been involved in developing more than 28 mitigation banks and countless other conservation projects.
Anderson is Co-Owner of Wildlife Systems, Inc., serves as Board Trustee for the Texas Wildlife Association Foundation, and is philanthropically involved with the Texas Forestry Association and the Texas Wildlife Association. Additionally, Anderson volunteers at Stephen F. Austin State University’s Arthur Temple College of Forestry and Agriculture, assisting with habitat management and ecology courses. In addition to having expertise in applied field biology disciplines, Anderson is well-versed in conservation finance strategies and federal environmental policy while believing in and advocating for the merits of “good to great” principles in the business world.
Tamara Wood
Brennan Bilberry has served as a political and communications strategist for politicians, governments, investment firms, startups, and NGOs around the world. At Fairmark, he advises clients on public policy and strategic communications. Brennan previously was a Partner and the Head of Public Affairs at The Messina Group, where he implemented winning, data-driven communications and advertising strategies on five continents. His work included overseeing environmental public policy campaigns in numerous countries, providing international political intelligence for US investors, advising winning political campaigns around the world, and designing and implementing consumer advertising and court-mandated legal advertising. In 2013, Brennan served as Communications Director for Terry McAuliffe’s successful campaign for Virginia governor, overseeing tens of millions in paid media. In the 2012 presidential election, Brennan was Deputy Executive Director of Priorities USA, the pro-Obama Super PAC, responsible for developing the messages and nearly $100 million in paid media defining Mitt Romney in battleground states. Prior to that, he worked for two election cycles in communications and research at the Democratic Congressional Campaign Committee. Brennan received his bachelor’s degree from Harvard College with a degree in Government after growing up in Montana and South Dakota.
Tamara Wood joined Conservation Equity Management, LP at its inception in February of 2021. She is also the Project Manager and Ecologist for Conservation Equity Partners, LLC since June 2019. She previously worked with CEM’s co-founder, Terry Anderson at another firm starting in July 2014, developing mitigation and conservation-related assets throughout Texas, Arkansas, Louisiana, and Oklahoma. Wood, who earned her bachelor's and Master's of Science in Forestry from Stephen F. Austin State University, also assisted Stephen F. Austin State University’s Arthur Temple College of Forestry and Agriculture by teaching plant identification and habitat management. With more than ten years hands-on experience in the natural resource field, her passion for scientific inquiry and her experience with high-quality research, data gathering, and generation of technical reports make her an invaluable team member.
Jeffrey J. Knowlton
Brennan Bilberry has served as a political and communications strategist for politicians, governments, investment firms, startups, and NGOs around the world. At Fairmark, he advises clients on public policy and strategic communications. Brennan previously was a Partner and the Head of Public Affairs at The Messina Group, where he implemented winning, data-driven communications and advertising strategies on five continents. His work included overseeing environmental public policy campaigns in numerous countries, providing international political intelligence for US investors, advising winning political campaigns around the world, and designing and implementing consumer advertising and court-mandated legal advertising. In 2013, Brennan served as Communications Director for Terry McAuliffe’s successful campaign for Virginia governor, overseeing tens of millions in paid media. In the 2012 presidential election, Brennan was Deputy Executive Director of Priorities USA, the pro-Obama Super PAC, responsible for developing the messages and nearly $100 million in paid media defining Mitt Romney in battleground states. Prior to that, he worked for two election cycles in communications and research at the Democratic Congressional Campaign Committee. Brennan received his bachelor’s degree from Harvard College with a degree in Government after growing up in Montana and South Dakota.
Jeffrey Knowlton joined Conservation Equity Management, LP at its inception in February of 2021. He also serves as the Chief Financial Officer for Hayman Capital Management, LP where he is responsible for all accounting related functions for Hayman’s fund complex. Knowlton served as a Director for Hayman Offshore Management, Inc.’s board from 2016 to 2019 and joined Hayman Capital Management, LP in June 2006. Previously, Knowlton was employed by Brazos Private Equity Partners, LLC and PricewaterhouseCoopers, both in Dallas. Knowlton is a Certified Public Accountant and received his Master of Accountancy degree and Bachelor of Science degree in Accounting from Brigham Young University in December 2002.
Steele D. Schottenheimer
Brennan Bilberry has served as a political and communications strategist for politicians, governments, investment firms, startups, and NGOs around the world. At Fairmark, he advises clients on public policy and strategic communications. Brennan previously was a Partner and the Head of Public Affairs at The Messina Group, where he implemented winning, data-driven communications and advertising strategies on five continents. His work included overseeing environmental public policy campaigns in numerous countries, providing international political intelligence for US investors, advising winning political campaigns around the world, and designing and implementing consumer advertising and court-mandated legal advertising. In 2013, Brennan served as Communications Director for Terry McAuliffe’s successful campaign for Virginia governor, overseeing tens of millions in paid media. In the 2012 presidential election, Brennan was Deputy Executive Director of Priorities USA, the pro-Obama Super PAC, responsible for developing the messages and nearly $100 million in paid media defining Mitt Romney in battleground states. Prior to that, he worked for two election cycles in communications and research at the Democratic Congressional Campaign Committee. Brennan received his bachelor’s degree from Harvard College with a degree in Government after growing up in Montana and South Dakota.
Steele Schottenheimer joined Conservation Equity Management, LP at its inception in February of 2021. She is also responsible for the investor relations and marketing functions at Hayman Capital Management since April 2006. Previously, Schottenheimer was employed with Legg Mason’s Institutional Equity Sales. Her other public relations experience include Southern Methodist University’s Media Relations Department and Southern Methodist University’s Football Office. Schottenheimer graduated from Southern Methodist University in December 2004 with a Bachelor of Arts in Corporate Communications and Public Affairs.
Quinn McColly, PhD
Brennan Bilberry has served as a political and communications strategist for politicians, governments, investment firms, startups, and NGOs around the world. At Fairmark, he advises clients on public policy and strategic communications. Brennan previously was a Partner and the Head of Public Affairs at The Messina Group, where he implemented winning, data-driven communications and advertising strategies on five continents. His work included overseeing environmental public policy campaigns in numerous countries, providing international political intelligence for US investors, advising winning political campaigns around the world, and designing and implementing consumer advertising and court-mandated legal advertising. In 2013, Brennan served as Communications Director for Terry McAuliffe’s successful campaign for Virginia governor, overseeing tens of millions in paid media. In the 2012 presidential election, Brennan was Deputy Executive Director of Priorities USA, the pro-Obama Super PAC, responsible for developing the messages and nearly $100 million in paid media defining Mitt Romney in battleground states. Prior to that, he worked for two election cycles in communications and research at the Democratic Congressional Campaign Committee. Brennan received his bachelor’s degree from Harvard College with a degree in Government after growing up in Montana and South Dakota.
Dr. Quinn McColly joined Conservation Equity Management, LP in January of 2023 to help manage the burgeoning water program. Before joining CEM, he was a director at a Texas based non-profit and helped craft multiple first of their kind transactions involving surface water and groundwater. He brings a wealth of experience with over 15 years spent in the capital markets as a floor trader on the Chicago Stock Exchange and in wealth management. McColly earned an MS in Environmental Science and PhD in Coastal and Marine System Science at the Harte Research Institute at Texas A&M University—Corpus Christi. He earned his PhD by defending his work Market Mechanisms and Efficient Allocation of Water: Modelling Water Prices, Pricing Options on Water, and Enhancing Frameworks. McColly has been published in the Texas Water Journal and has spoken at Yale, the University of Texas, Rice University, and many national and international conferences.
Brody Capps
Brennan Bilberry has served as a political and communications strategist for politicians, governments, investment firms, startups, and NGOs around the world. At Fairmark, he advises clients on public policy and strategic communications. Brennan previously was a Partner and the Head of Public Affairs at The Messina Group, where he implemented winning, data-driven communications and advertising strategies on five continents. His work included overseeing environmental public policy campaigns in numerous countries, providing international political intelligence for US investors, advising winning political campaigns around the world, and designing and implementing consumer advertising and court-mandated legal advertising. In 2013, Brennan served as Communications Director for Terry McAuliffe’s successful campaign for Virginia governor, overseeing tens of millions in paid media. In the 2012 presidential election, Brennan was Deputy Executive Director of Priorities USA, the pro-Obama Super PAC, responsible for developing the messages and nearly $100 million in paid media defining Mitt Romney in battleground states. Prior to that, he worked for two election cycles in communications and research at the Democratic Congressional Campaign Committee. Brennan received his bachelor’s degree from Harvard College with a degree in Government after growing up in Montana and South Dakota.
Brody Capps joined Conservation Equity Management, LP in January 2024. He also serves as the Operations Manager for Conservation Equity Partners, LLC since January 2024. Prior to joining the CEM team, Capps owned his own forestry and wildlife consulting business, SilvaCon LLC, for two years. Previously, he was employed by Rayonier Forest Resources from 2018-2022. Capps has over 6 years of hands-on experience dealing with forestry, wildlife, and construction throughout Texas, Oklahoma, and Louisiana. He graduated from Stephen F. Austin State University in 2019 with a bachelor’s degree in Forest Wildlife Management.
Stuart T. Smith
Brennan Bilberry has served as a political and communications strategist for politicians, governments, investment firms, startups, and NGOs around the world. At Fairmark, he advises clients on public policy and strategic communications. Brennan previously was a Partner and the Head of Public Affairs at The Messina Group, where he implemented winning, data-driven communications and advertising strategies on five continents. His work included overseeing environmental public policy campaigns in numerous countries, providing international political intelligence for US investors, advising winning political campaigns around the world, and designing and implementing consumer advertising and court-mandated legal advertising. In 2013, Brennan served as Communications Director for Terry McAuliffe’s successful campaign for Virginia governor, overseeing tens of millions in paid media. In the 2012 presidential election, Brennan was Deputy Executive Director of Priorities USA, the pro-Obama Super PAC, responsible for developing the messages and nearly $100 million in paid media defining Mitt Romney in battleground states. Prior to that, he worked for two election cycles in communications and research at the Democratic Congressional Campaign Committee. Brennan received his bachelor’s degree from Harvard College with a degree in Government after growing up in Montana and South Dakota.
Stuart Smith joined Conservation Equity Management, LP at its inception in February 2021. He also serves as the Chief Compliance Officer & Controller of Hayman Capital Management, LP where he is responsible for all compliance related functions and supports the CFO with all accounting related functions. Prior to joining Hayman Capital Management, LP in July 2007, Mr. Smith was employed by KPMG, LLP in the audit practice from 2003 to 2007. As a senior associate, Mr. Smith helped execute the financial statement audits of private equity clients. Previously, Mr. Smith was employed as the Controller of an online retailer. Mr. Smith is a Certified Public Accountant and received his Masters of Accountancy degree and Bachelor of Science degree in Accounting from Brigham Young University in April 2003.
Brennan Bilberry
Brennan Bilberry has served as a political and communications strategist for politicians, governments, investment firms, startups, and NGOs around the world. At Fairmark, he advises clients on public policy and strategic communications. Brennan previously was a Partner and the Head of Public Affairs at The Messina Group, where he implemented winning, data-driven communications and advertising strategies on five continents. His work included overseeing environmental public policy campaigns in numerous countries, providing international political intelligence for US investors, advising winning political campaigns around the world, and designing and implementing consumer advertising and court-mandated legal advertising. In 2013, Brennan served as Communications Director for Terry McAuliffe’s successful campaign for Virginia governor, overseeing tens of millions in paid media. In the 2012 presidential election, Brennan was Deputy Executive Director of Priorities USA, the pro-Obama Super PAC, responsible for developing the messages and nearly $100 million in paid media defining Mitt Romney in battleground states. Prior to that, he worked for two election cycles in communications and research at the Democratic Congressional Campaign Committee. Brennan received his bachelor’s degree from Harvard College with a degree in Government after growing up in Montana and South Dakota.
Brennan Bilberry has served as a political and communications strategist for politicians, governments, investment firms, startups, and NGOs around the world. At Fairmark, he advises clients on public policy and strategic communications. Brennan previously was a Partner and the Head of Public Affairs at The Messina Group, where he implemented winning, data-driven communications and advertising strategies on five continents. His work included overseeing environmental public policy campaigns in numerous countries, providing international political intelligence for US investors, advising winning political campaigns around the world, and designing and implementing consumer advertising and court-mandated legal advertising. In 2013, Brennan served as Communications Director for Terry McAuliffe’s successful campaign for Virginia governor, overseeing tens of millions in paid media. In the 2012 presidential election, Brennan was Deputy Executive Director of Priorities USA, the pro-Obama Super PAC, responsible for developing the messages and nearly $100 million in paid media defining Mitt Romney in battleground states. Prior to that, he worked for two election cycles in communications and research at the Democratic Congressional Campaign Committee. Brennan received his bachelor’s degree from Harvard College with a degree in Government after growing up in Montana and South Dakota.
Shane Mahoney
Brennan Bilberry has served as a political and communications strategist for politicians, governments, investment firms, startups, and NGOs around the world. At Fairmark, he advises clients on public policy and strategic communications. Brennan previously was a Partner and the Head of Public Affairs at The Messina Group, where he implemented winning, data-driven communications and advertising strategies on five continents. His work included overseeing environmental public policy campaigns in numerous countries, providing international political intelligence for US investors, advising winning political campaigns around the world, and designing and implementing consumer advertising and court-mandated legal advertising. In 2013, Brennan served as Communications Director for Terry McAuliffe’s successful campaign for Virginia governor, overseeing tens of millions in paid media. In the 2012 presidential election, Brennan was Deputy Executive Director of Priorities USA, the pro-Obama Super PAC, responsible for developing the messages and nearly $100 million in paid media defining Mitt Romney in battleground states. Prior to that, he worked for two election cycles in communications and research at the Democratic Congressional Campaign Committee. Brennan received his bachelor’s degree from Harvard College with a degree in Government after growing up in Montana and South Dakota.
Shane Patrick Mahoney is the Founder and Executive Director of the Institute for Biodiversity, Ecosystem Science and Sustainability at Memorial University of Newfoundland and Labrador. He also leads the Sustainable Development and Strategic Science Division of the Department of Environment and Conservation, Government of Newfoundland and Labrador. He is the North American Chair of the IUCN (World Conservation Union) Sustainable Use and Livelihoods Specialist Group, the International Liaison for the Wildlife Society, North American Expert, Vice-president of the Sustainable Use Commission and Head of the Canadian Delegation to the International Council for the Conservation of Wildlife (CIC), a Professional Member of the Boone and Crocket Club, Board Member of Conservation Force and member to Safari Club International’s Conservation Committee for Africa.
Shane has been an appointed adjunct professor to several universities in Canada and served as advisor to numerous conservation organizations. His scientific research has focused primarily on the predator-prey interactions and population dynamics of large mammals and has been presented in a wide range of peer-reviewed journals, book chapters, technical reports and international symposia. He is also widely recognized as a leading authority on North American conservation history and policy and has been in the forefront of debates on issues of sustainable use within both the United States and Canada.
Shane is recognized as a communicator on these issues he has worked extensively in various media, currently writing for various popular magazines such as Sports Afield and hosting and narrating television series and producing independent films. He has been the recipient of numerous awards for his conservation work including the Public Service Award of Excellence by the government of Newfoundland and Labrador and the International Conservationist of the Year by Safari Club International. He has been listed as one of the ten most influential conservationists in Canada by Outdoor Canada magazine and one of the twenty-five most important conservationists in North America, as well as nominated for Person of the Year, by Outdoor Life magazine.
Mariana Sarmiento
Brennan Bilberry has served as a political and communications strategist for politicians, governments, investment firms, startups, and NGOs around the world. At Fairmark, he advises clients on public policy and strategic communications. Brennan previously was a Partner and the Head of Public Affairs at The Messina Group, where he implemented winning, data-driven communications and advertising strategies on five continents. His work included overseeing environmental public policy campaigns in numerous countries, providing international political intelligence for US investors, advising winning political campaigns around the world, and designing and implementing consumer advertising and court-mandated legal advertising. In 2013, Brennan served as Communications Director for Terry McAuliffe’s successful campaign for Virginia governor, overseeing tens of millions in paid media. In the 2012 presidential election, Brennan was Deputy Executive Director of Priorities USA, the pro-Obama Super PAC, responsible for developing the messages and nearly $100 million in paid media defining Mitt Romney in battleground states. Prior to that, he worked for two election cycles in communications and research at the Democratic Congressional Campaign Committee. Brennan received his bachelor’s degree from Harvard College with a degree in Government after growing up in Montana and South Dakota.
Mariana Sarmiento is the founder and CEO of Terrasos, a strategic environmental consultancy based in Colombia. In 2014, Terrasos initiated the first Habitat Bank in Colombia and Latin America. It is Colombia’s only provider of environmental offset solutions using a performance-based approach within Colombia’s regulatory framework following a Presidential Order signed in December 2016. Its current clients include private companies in the mining and energy sector as well as international and national agencies.
Mariana has expertise in environmental policy design and implementation, environmental markets, corporate environmental sustainability and conflict analysis. She has helped companies, governments, and international agencies to mainstream environmental issues in the decision-making process in Latin America and the U.S. Sarmiento had also worked for the Ministry of Environment in Colombia, the Wildlife Conservation Society, and consulted for the World Bank.
Mariana received her B.A. degree in Political Science and Environmental Policy, Magna Cum Laude, from Tulane University and graduated with a M.E.M degree in Environmental Policy and Management from the Yale School of the Environment (formerly Forestry & Environmental Studies) in 2011. She is also the 2017 recipient of the Mulago Foundation’s Conservation Fellow award.