Cohen & Steers

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Cohen & Steers, Inc.
Company type Public
IndustryInvestment management
Founded1986;38 years ago (1986)
FoundersMartin Cohen
Robert Steers
Headquarters 1166 Avenue of the Americas,
New York, NY
,
United States
Key people
Joseph Harvey (CEO and President)
RevenueIncrease2.svg US$583.82 million (FY 2021)
Increase2.svg US$260.37 million (FY 2021)
Increase2.svg US$226.15 million (FY 2021)
AUM US$94 billion (July 31, 2022) [1]
Total assets Increase2.svg US$492.69 million (FY 2021)
Total equity Increase2.svg US$255.18 million (FY 2021)
Number of employees
Increase2.svg 354 (FY 2021)
Website www.cohenandsteers.com
Footnotes /references
[2]

Cohen & Steers is an American investment management company. It focuses on investments in real estate securities via real estate investment trusts (REIT) and alternative income via preferred securities. [2] [3]

Contents

In August 2022, according to a report released by the National Association of Real Estate Investment Trusts, Cohen & Steers was the third largest manager of REIT securities worldwide with $56.6 billion assets under management. [4]

History

Cohen & Steers was founded in 1986 by Martin Cohen and Robert Steers. [2] [5] [6] [7] [8] Prior to founding the company, both worked at the National Securities and Research Corporation. There, in 1985, they organized and managed the first real estate securities mutual fund in the United States, the National Real Estate Stock Fund. [9] [10] [7] [8]

Cohen & Steers is considered a pioneer in developing the securitised real estate sector and to this day remains a leader in it. [5] [4] [6] [7] [8] However, Cohen & Steers has diversified by expanding into other investments, such as preferred securities and real assets starting in 2003 and 2012 respectively. [8]

In August 2004, Cohen & Steers completed its initial public offering to become a listed company on the New York Stock Exchange, raising $104.3 million. [6] [8] [11] [12]

In 2016, Cohen retired from day-to-day management of the company. [7] In November 2021, Steers announced he would be steeping down from his position as CEO and would be succeeded by Joseph Harvey. [13]

In 2021, Cohen & Steers' assets under management figure surpassed $100 billion. [14]

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References

  1. ↑ "Cohen & Steers Announces Preliminary Assets Under Management and Net Flows For July 2022". finance.yahoo.com. August 9, 2022.
  2. 1 2 3 "2021 Annual Report" (PDF). October 6, 2022. Archived from the original (PDF) on October 6, 2022.
  3. ↑ "Cohen & Steers, Inc. SEC Registration". sec.report.
  4. 1 2 Jacobius, Arleen (September 29, 2022). "REIT assets down but not out, industry experts say". Pensions & Investments. Retrieved October 29, 2022.
  5. 1 2 "Cohen & Steers". thehedgefundjournal.com. Retrieved October 29, 2022.
  6. 1 2 3 "Cohen & Steers Sharpens its Focus". www.reit.com. Retrieved October 29, 2022.
  7. 1 2 3 4 Walker, Owen (November 10, 2018). "Bob Steers - Wall St veteran who opened property to the masses". Financial Times. Retrieved October 29, 2022.
  8. 1 2 3 4 5 Segal, Julie (March 26, 2013). "Cohen & Steers Looking Beyond REITs and Real Estate". Institutional Investor. Retrieved October 29, 2022.
  9. ↑ "Dedicated Real Estate Funds Developed". www.reit.com. Retrieved October 29, 2022.
  10. ↑ Serwer, Andrew Evan (October 12, 1987). "Look Who's Leaping Into Real Estate". money.cnn.com. Retrieved October 29, 2022.
  11. ↑ Hennessey, Raymond (March 31, 2004). "Cohen & Steers Files for an IPO". Wall Street Journal. ISSN   0099-9660 . Retrieved October 29, 2022.
  12. ↑ O'Donnell, Kathie (August 13, 2004). "Cohen & Steers completes IPO". MarketWatch. Retrieved October 29, 2022.
  13. ↑ Jacobius, Arleen (November 5, 2021). "Cohen & Steers sets CEO succession". Pensions & Investments. Retrieved October 29, 2022.
  14. ↑ Sloley, Chris (September 22, 2021). "The first $100bn's the hardest: Where Cohen & Steers goes next". citywire.com. Retrieved October 29, 2022.
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