Cohen & Steers, Inc. Hires Global Real Estate Fund of Funds Team; Stephen M. Coyle to Lead Strategy
22/04/2008 23:59
PR Newswire
NEW YORK, April 22 /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.
Web site: http://www.cohenandsteers.com
Matthew S. Stadler, Executive Vice President, Chief Financial Officer, Cohen & Steers, Inc., +1-212-446-9168