NEW YORK, April 23 /Xinhua-PRNewswire/ --
Cohen & Steers, Inc. (NYSE: CNS) announced today that it has hired a team, led by Stephen M. Coyle, to manage private global real estate fund of funds. Mr. Coyle, who will be a senior vice president and portfolio manager for the strategy, joins Cohen & Steers with more than 19 years of experience in commercial real estate investing. He was previously chief investment strategist and fund of funds portfolio manager with Citigroup Property Investors, the real estate investment management arm of Citigroup.
Mr. Coyle will be joined by Dev Subhash, who will be a vice president and assistant portfolio manager. Mr. Subhash was previously the assistant portfolio manager for the Citigroup Property Investors global real estate fund of funds, where he was primarily responsible for identifying potential investments for the funds.
"A global real estate fund of funds further broadens our alternative investment capability," said Robert H. Steers, co-chairman and co-chief executive officer of Cohen & Steers. "As with our new global real estate long-short fund capability, we believe our fund of funds strategy will allow us to capitalize on increased investment opportunities in the global real estate markets."
The company's global real estate fund of funds will invest in commercial real estate through institutional, value added and opportunistic private real estate funds. The team's objective will be to deliver customized solutions to the growing global multi-manager marketplace.
"Steve and his team bring a strong track record in managing globally diversified real estate fund of funds," added Martin Cohen, co-chairman and co-chief executive officer of the firm. "We value their expertise in providing investors with access to numerous top real estate managers through a single investment."
About Cohen & Steers
Cohen & Steers is a manager of high-income equity portfolios, specializing in U.S. and international real estate securities, preferred securities, utilities and listed infrastructure securities, and large cap value stocks. Headquartered in New York City, with offices in Brussels, Hong Kong, London and Seattle, the company serves individual and institutional investors through open-end mutual funds, closed-end mutual funds and institutional separate accounts.
Forward Looking Statements
This press release and other statements that Cohen & Steers may make may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company believes that these factors include, but are not limited to, those described in the "Risk Factors" section of the company's Annual Report on Form 10-K for the year ended December 31, 2007, which is accessible on the Securities and Exchange Commission's website at www.sec.gov and on the company's Web site at www.cohenandsteers.com. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
