Emerald Development Managers

Emerald's founder Neil Cohen and partner Charles Collins co-founded American Rock Salt, the largest operating salt mine in the United States, located in Mount Morris, New York. Emerald operates as a separate investment firm, but American Rock Salt serves as both a model for its hands-on approach to asset development and an anchor portfolio position. The shared founding DNA means Emerald evaluates opportunities through the lens of operators, not just financial allocators.

Emerald relies on principal-led sourcing through the industrial and professional networks of its founding team. Neil Cohen's background in heavy industry and his academic advisory relationships — including with Johns Hopkins University's Whiting School of Engineering — provide visibility into infrastructure-adjacent technology and project-development opportunities. Stephen Case's legal networks further support transaction origination and structured deal execution.

Emerald focuses on early-stage project development within tangible asset classes such as infrastructure, natural resources, and industrial operations. The firm favors greenfield and development-stage commitments where operational intervention from its principals — who have direct experience building assets like the American Rock Salt mine — can meaningfully influence project outcomes before stabilization.

Yes. While American Rock Salt represents a core domestic holding, Emerald has pursued infrastructure development projects internationally, including mixed-use infrastructure initiatives in Northern Ireland through its Emerald Infrastructure Development Fund. This indicates a mandate capable of deploying capital where project-specific expertise can be exported.

Founder and Chairman Neil Cohen leads investment decision-making, supported by Partner Charles Collins and Managing Director Stephen Case. The compact partnership structure concentrates authority among principals with shared operating history dating back to the founding of American Rock Salt, avoiding the committee creep common at larger institutional platforms.