Hammer and Company

The firm operates on a project-specific syndication model, not through blind-pool commingled funds. Each transaction carries its own capital stack and investor group, which reduces cross-collateralization risk across the portfolio. This approach has been consistent since the firm's 1994 founding.

Hammer and Company concentrates on real assets tied to environmental outcomes — primarily wetlands mitigation banks, conservation land projects, and restoration-based real estate. The firm originates each deal, structures the transaction, and often remains involved through the operational phase and credit-release cycle. Its geographic focus gravitates toward regulatory mitigation markets in the Eastern and Southeastern United States.

Based on the firm's structure and public profile, its capital base draws from family offices and high-net-worth individuals seeking direct asset-backed exposure outside conventional real estate. No institutional LP relationships — such as pension funds or endowments — have been publicly reported. The firm does not market broadly to institutional allocators.

The firm sources conservation and mitigation-banking opportunities through relationships with landowners, environmental engineering firms, and regulatory mitigation demand. Its deal flow is tied to the regulatory framework of the Clean Water Act, which requires developers who impact wetlands to purchase credits from approved mitigation banks — creating a market the firm has accessed since the 1990s.

David Hammer remains the founder and managing principal, maintaining direct oversight of transaction origination and structuring. The firm has not announced any succession plan or ownership transition, and the lean team structure — roughly 10 professionals — implies high founder involvement in each deal.