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Cohen & Steers adds team for new private real estate business
Cohen & Steers adds team for new private real estate business
Updated with correction.
James S. Corl joined Cohen & Steers as an executive vice president to head the real estate investment trust manager s new private real estate business, spokesman Rob Klemens said in an email.
Mr. Corl was a managing director and head of real estate at Siguler Guff & Co.
Also joining the new Cohen & Steers team is
Hamid Tabib, a senior vice president and head of real estate acquisitions, North America. Mr. Tabib was a member of the new real estate team at Siguler Guff.
Cohen & Steers the firm that was arguably responsible for putting real estate investment trusts on the map is now moving into privately held real estate and building the first investment strategies that can move back and forth between public and private markets.
To lead the effort, the firm has tapped James Corl, who had been Cohen & Steers’ chief investment officer of listed real estate before leaving to build out Siguler Guff & Co.’s $3 billion private real estate team eleven years ago.
With this move, Cohen & Steers can now invest in $15 trillion worth of commercial real estate in the U.S. that is privately held. Among other things, the team will make direct investments and private investments in public equity, or PIPE deals, as well as invest in pre-IPO securities.
Cohen & Steers Forms Private Real Estate Group
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NEW YORK, April 19, 2021 /PRNewswire/ Cohen & Steers, Inc. (NYSE: CNS), a leading global investment manager specializing in real assets and alternative income, is pleased to announce the formation of the Cohen & Steers Private Real Estate Group, a team purpose-built for private real estate investing.
The Private Real Estate Group broadens the firm s opportunity set to include the $15 trillion U.S. commercial real estate market that is private, representing more than 90% of the U.S. market not owned by listed REITs. The new capability will enhance the firm s range of real estate strategies and its ability to provide clients with bespoke solutions.
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