Cohen & Steers is celebrating its 30th anniversary. Over the past three decades, Cohen & Steers has achieved its vision of becoming a leading manager of real asset strategies, building on its long-standing renown as a pioneer in listed real estate investing.
Marty Cohen and Bob Steers launched the firm in 1986 and listed Cohen & Steers, Inc. on the New York Stock Exchange in 2004. As of September 30, 2016, Cohen & Steers managed more than $60 billion in assets and employed nearly 300 people in five offices across the U.S., Europe and Asia. Since its beginnings as a specialist investor in U.S. REITs, the firm has expanded its investment capabilities to include other liquid real assets, including listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions.
In commemoration of the 30-year milestone, the co-founders rang the opening bell of the New York Stock Exchange on October 10, 2016. At its initial public offering on August 16, 2004, Cohen & Steers, Inc. debuted at $13 per share with $15 billion in assets under management (AUM). Twelve years later, as of October 10, 2016, shares traded at $40.69, with September 30, 2016 representing a quadrupling of AUM during that period.
“I am excited and humbled to be celebrating this special milestone,” said Bob Steers, the firm’s Chief Executive Officer. “Seeing the firm grow and evolve over the years has been incredibly gratifying and I look forward to the tremendous possibilities that lie ahead. Just as we saw the opportunity in REITs 30 years ago, we believe investors are just beginning to recognize the potential of real assets.”
Cohen & Steers’ strategies are available through a wide range of investment vehicles, including institutional accounts, U.S. registered mutual funds, European institutional and retail funds, collective investment trusts, as well as limited partnerships.