Cohen & Steers has been awarded two REIT mandates. Bayerische Versorgungskammer (BVK), Germany’s largest public pension fund, has selected Cohen & Steers to manage U.S. and European real estate securities portfolios.
The portfolios will be launched and administered by alternative investment manager UniversalInvestment as specialised investment funds in Luxembourg.
Commenting on the award, Marc Haynes, Cohen & Steers’ regional head of institutional business, said: “We are delighted to have been awarded mandates by BVK, one of Europe’s most highly regarded investors, and we look forward to a successful relationship over many years to come. This mandate demonstrates the growing interest in listed property in Germany and expands our leadership as a global REIT manager. Institutional investors globally are embracing listed real assets to complement their private investment programs, and we stand well positioned to support this secular shift.”
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Real estate securities offer an efficient means of investing in properties, providing liquid access to an array of property types and geographic regions. Cohen & Steers portfolio managers, backed by one of the industry’s largest teams of real estate analysts, pair on-the-ground insights of local economies and property sectors with rigorous analysis of individual companies in constructing portfolios that offer the potential for attractive risk-adjusted returns.
Cohen & Steers was the first dedicated asset manager of listed property securities and for more than 30 years has been committed to providing clients with liquid alternative investment solutions that offer the potential for attractive total returns and stable income, while delivering portfolio diversification benefits. In total, Cohen & Steers has $62.6 billion (€55.8 billion) of assets under management, as of 31 March 2019.