Cohen & Steers, Inc. Hires Global Real Estate Fund of Funds Team; Stephen M. Coyle to Lead Strategy
New York, NY, April 22, 2008— 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 funds 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.