Beartooth Capital Team

Principals

Robert Keith, Founder and Principal
Robert has spent his career in the public equity and private equity investment fields. Prior to co-founding Beartooth Capital, Robert served as the Investment Partner at Greenbridges, LLC, a conservation-oriented real estate investment company. While at Greenbridges, Robert developed relationships with landowners, brokers and conservation organizations to identify the investment group's key regional markets, source deals in those markets and consummate investments. Prior to Greenbridges, Robert worked with Trident Capital, a Palo Alto, California private equity and venture capital investment firm focused on the information technology industry. While at Trident, Robert sourced and managed transactions in the business process outsourcing (BPO), open source software, Voice over IP (VoIP), electronic marketing, alternative energy and electronic document management industries.

Prior to Trident, Robert worked at Morgan Stanley in New York City where he followed several different industries for Morgan Stanley's Equity Research Department, including telecommunications services, satellite services, media/advertising and Internet advertising. Robert was a member of the #3 ranked Institutional Investor team in Satellite Services and was a two-time member of the #3 ranked Institutional Investor team in Advertising & Marketing Services. While at Morgan Stanley, he co-authored several cutting-edge industry reports including: The e-Marketing Report and The Telecommunications Primer.

Robert grew up in Minneapolis, Minnesota and Cody, Wyoming. He earned a BA in Economics from Yale University and earned his MBA and certificate of Public Management from the Graduate School of Business at Stanford University. Robert is a member of the Board of Directors of the Greater Yellowstone Coalition and is the Association of Yale Alumni President for the state of Montana.

Carl Palmer, Founder and Principal
In addition to his role as Principal and co-founder of Beartooth Capital, Carl co-founded and was President and CEO of Greenbridges, LLC, a conservation-oriented real estate investment company investing in ranches in the American West. At Greenbridges Carl developed and implemented the company's business model and investment strategy, built relationships, developed partnerships, managed day-to-day operations and sourced, reviewed and consummated deals.

Prior to Greenbridges, Carl was Executive Director (CEO) of the Ogden Nature Center, a land trust and education center with two wildlife sanctuaries on the Wasatch Front in Utah. Carl also worked at the Teton Science Schools in Jackson, Wyoming, working with the Executive Director and Grand Teton National Park Superintendent to launch the Murie Center, a nonprofit dedicated to building on the conservation legacy of Mardie, Olaus and Adolph Murie, some of our nation's foremost conservation leaders.

Carl grew up in Coral Gables, Florida and Martha's Vineyard, Massachusetts. He graduated from the Hotchkiss School in Lakeville, Connecticut and received a BA in Architectural Studies and a BA in Environmental Studies with Honors from Brown University. He earned his MBA from the Graduate School of Business at Stanford University where he was President of the Public Management Program. Carl is a member of the Board of Directors of Teton Science Schools and the Vermillion Sea Institute.

Team

Jake Hodge, General Counsel
James B. Hodge is the firm’s general counsel and in that role is responsible for entity formation and management, risk management, compliance, contracting and all legal aspects of firm management. Jake has practiced law for more than 30 years and specializes in complex real estate, business, financial and conservation transactions. He is a Partner of Sustainable Environments, a mitigation banking investment firm. Previously Jake was the managing partner of the San Francisco office of the national law firm Sheppard, Mullin, Richter and Hampton, LLP and was also the head of business development and marketing for the firm. He lives in Jackson, Wyoming. Jake received his BA degree with honors from the University of Washington, and his JD with high honors from the Law School of Columbia University in New York City. Jake has worked with Beartooth for more than five years.

Court Smith, Associate - Natural Resources
Court is responsible for the management of the firm’s investment properties and the implementation of the firm’s plans for each property. This includes the development and management of Beartooth’s internal property and conservation data systems, the assessment of the resource and conservation values of prospective Fund investments, execution of restoration and enhancement plans for portfolio properties, and the management of Beartooth’s carbon sequestration program. Prior to joining the team, Court served as a research ecologist and educator at the Conservation Research Center of Teton Science Schools in Jackson, Wyoming. He has a BS in Science Education from Miami University (Ohio) and an MA in Conservation Biology from Prescott College. As a professional ecologist, Court spent several years studying the impacts of human development on wildlife in areas within the Greater Yellowstone Ecosystem. Prior to working as a researcher, Court was a science educator in California and Wyoming. He has been with Beartooth for more than four years.

Ed Spotts, Associate - Sourcing and Acquisitions
Ed works closely with real estate, conservation and natural resource professionals to identify and evaluate potential investment properties. He is responsible for maintaining our property sourcing database and executing on property due diligence. Ed has over 25 years of experience in the characterization and reclamation of natural resources. This work has included the analysis and rehabilitation of soils, surface water, ground water and wetlands across a variety of landscapes and ranches in the west. Ed is also experienced with water rights and has acted as a liaison between the private sector and agencies regarding environmental and resource permitting issues. He is an avid hunter and fisherman. Prior to joining the Beartooth team, Ed worked as a natural resource and reclamation consultant for Schafer and Associates and Atkins North America. Ed has a B.S in Geology and an M.S. in Land Rehabilitation from Montana State University.

Lauren Cummings, Associate - Investor Relations, Operations and Real Estate
Lauren is responsible for acquisition research and analysis, due diligence, data management and office administration. Lauren previously worked with Huron Partners, Inc., a Chicago real estate private equity firm, where she engaged in financial analysis, property underwriting, site inspection and the development of marketing packages. Lauren also worked with Bennett and Kahnweiler Colliers International in their real estate pension fund advisory department where she prepared financial projections, competitive property analysis and market studies. Lauren graduated from Miami University (Ohio) where she earned a BS in Finance and Accounting. She received her MBA in Finance from DePaul University. Lauren has been with Beartooth for more than three years.

Megan Miley, Associate - Communications
Megan is responsible for implementation of the firm’s communications program across all firm activities from ranch marketing to investor, partner and community relations. Megan joined the team in June 2011 after working for the firm on a contract basis for more than a year. Before starting her graphic design business, Megan was a planner and community outreach specialist for the air quality, resource management and environmental health departments of the County of Santa Barbara, California. She received two BAs in Environmental Studies and Economics from the University of California, Santa Barbara (UCSB). She later extended her education in art, design, and visual communication at UCSB and Santa Barbara City College.