Cohen & Steers
| Company type | Public |
|---|---|
| Industry | Investment management |
| Founded | 1986 |
| Founder | Martin Cohen, Robert Steers |
| Headquarters | New York City , United States |
Key people | Joseph Harvey (CEO) |
| Products | Real estate securities, preferred securities, real assets |
Cohen & Steers is a U.S.-based investment management company that focuses on investments in real estate securities primarily through real estate investment trusts (REITs), as well as alternative income sources via preferred securities.
By August 2022, Cohen & Steers was recognized as the third largest global manager of REIT securities, with assets under management totaling $56.6 billion, according to data from the National Association of Real Estate Investment Trusts.
History
Established in 1986 by Martin Cohen and Robert Steers, Cohen & Steers traces its origins to the founders' previous roles at National Securities and Research Corporation. There, in 1985, they launched and managed the first U.S. real estate securities mutual fund, known as the National Real Estate Stock Fund. The firm has been acknowledged as an innovator in securitized real estate and continues to hold a leadership position within this niche. Expansion of its investment portfolio included entry into preferred securities in 2003 and later into real assets by 2012.
The company went public in August 2004 through an initial public offering on the New York Stock Exchange, raising $104.3 million. Martin Cohen stepped back from day-to-day operations in 2016. In November 2021, Joseph Harvey took over as CEO following Robert Steers' resignation.
By 2021, Cohen & Steers had grown its assets under management to exceed $100 billion, underscoring its substantial development and influence in the market.