Cohen & Steers, Inc. is a specialized global asset management firm that focuses on real assets and alternative income strategies. Founded in 1986 and headquartered in New York City, the firm operates globally with additional offices in London, Dublin, Hong Kong, Tokyo, and Singapore. Cohen & Steers is widely recognized as a pioneer in real estate investing, having launched the first real estate securities mutual fund in the United States. Today, its investment strategies span listed and private real estate, preferred securities, global listed infrastructure, natural resource equities, and commodities.
The firm's business model generates revenue primarily through investment advisory and administration fees, which are calculated as a percentage of total assets under management (AUM). Its client base is diversified across three main distribution channels: institutional accounts (including pension funds, endowments, and foundations), open-end mutual funds and active ETFs, and closed-end funds. As of early 2026, the firm managed approximately $100 billion in assets.
Cohen & Steers distinguishes itself from generalist asset managers through its deep, specialized expertise in income-oriented and real asset categories. Instead of offering all-purpose financial products, it concentrates on niche markets where it has decades of proprietary research experience. This focused approach allows the firm to maintain a strong competitive position, attract consistent net inflows, and sustain robust operating margins within the broader asset management industry.
