Company:Cohen & Steers
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 Headquarters at 1166 Avenue of the Americas | |
| Type | Public |
|---|---|
| Industry | Investment management |
| Founded | 1986 |
| Founders | Martin Cohen Robert Steers |
| Headquarters | 1166 Avenue of the Americas, New York, NY , United States |
Key people | Joseph Harvey (CEO and President) |
| Revenue |  US$583.82 million (FY 2021) |
| US$260.37 million (FY 2021) | |
| US$226.15 million (FY 2021) | |
| AUM | US$94 billion (July 31, 2022)[1] |
| Total assets | US$492.69 million (FY 2021) |
| Total equity | US$255.18 million (FY 2021) |
Number of employees | 354 (FY 2021) |
| Website | www |
| 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]
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] Both of them prior to founding the company, worked at the National Securities and Research Corporation where 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 still remains a leader in it.[5][4][6][7][8] However Cohen & Steers has also been diversifying by expanding its investments 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]
References
- ↑ "Cohen & Steers Announces Preliminary Assets Under Management and Net Flows For July 2022". August 9, 2022. https://finance.yahoo.com/news/cohen-steers-announces-preliminary-assets-202400395.html.
- ↑ 2.0 2.1 2.2 "2021 Annual Report". October 6, 2022. https://www.cohenandsteers.com/wp-content/uploads/2022/06/2021-CNS-Annual-Report.pdf.
- ↑ "Cohen & Steers, Inc. SEC Registration". https://sec.report/CIK/0001284812.
- ↑ 4.0 4.1 Jacobius, Arleen (September 29, 2022). "REIT assets down but not out, industry experts say" (in en). https://www.pionline.com/special-report/reit-assets-down-not-out-industry-experts-say.
- ↑ 5.0 5.1 "Cohen & Steers" (in en-GB). https://thehedgefundjournal.com/cohen-steers/.
- ↑ 6.0 6.1 6.2 "Cohen & Steers Sharpens its Focus" (in en). https://www.reit.com/news/reit-magazine/september-october-2018/cohen-steers-sharpens-its-focus.
- ↑ 7.0 7.1 7.2 7.3 Walker, Owen (November 10, 2018). "Bob Steers - Wall St veteran who opened property to the masses". Financial Times. https://www.ft.com/content/60851035-d6e8-35cd-9560-30e48fd39f0a.
- ↑ 8.0 8.1 8.2 8.3 8.4 Segal, Julie (March 26, 2013). "Cohen & Steers Looking Beyond REITs and Real Estate" (in en-gb). https://www.institutionalinvestor.com/article/b14zbbzyn0zgy7/cohen-steers-looking-beyond-reits-and-real-estate.
- ↑ "Dedicated Real Estate Funds Developed" (in en). https://www.reit.com/node/120427.
- ↑ Serwer, Andrew Evan (October 12, 1987). "Look Who's Leaping Into Real Estate". https://money.cnn.com/magazines/fortune/fortune_archive/1987/10/12/69627/index.htm.
- ↑ Hennessey, Raymond (March 31, 2004). "Cohen & Steers Files for an IPO" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/SB108068669404769469.
- ↑ O'Donnell, Kathie (August 13, 2004). "Cohen & Steers completes IPO" (in EN-US). https://www.marketwatch.com/story/cohen-steers-completes-ipo.
- ↑ Jacobius, Arleen (November 5, 2021). "Cohen & Steers sets CEO succession" (in en). https://www.pionline.com/alternatives/cohen-steers-sets-ceo-succession.
- ↑ Sloley, Chris (September 22, 2021). "The first $100bn’s the hardest: Where Cohen & Steers goes next". https://citywire.com/selector/news/the-first-100bn-s-the-hardest-where-cohen-and-steers-goes-next/a1557428.
External links
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