New York-based investment manager Cohen & Steers has launched the Global Real Estate Long-Short Offshore fund managed by Todd Voigt, who joined the firm specifically to manage its hedg
New York-based investment manager Cohen & Steers has launched the Global Real Estate Long-Short Offshore fund managed by Todd Voigt, who joined the firm specifically to manage its hedged real estate securities portfolios. Voigt is supported by a team of analysts and traders in New York, London, Brussels and Hong Kong.
‘We are seeing increased demand from our clients and real estate securities investors for hedged real estate strategies that can consistently generate superior risk-adjusted returns,’ says Martin Cohen, co-chairman and co-chief executive officer of Cohen & Steers.
‘This fund has been designed to allow us to capitalise on diverse and increasing investment opportunities in the global real estate securities markets. Todd himself is also a huge asset to us, with many years of experience in managing these types of funds.’
Says Voigt: ‘Cohen and Steers has an unparalleled longevity in real estate investment trusts which this product will build upon; the knowledge and experience of the global research team also means we have a huge amount of information at our fingertips to capture inefficiencies in the markets. The current market environment provides a great deal of opportunities for experienced and skilled long-short property managers.’
The new fund invests primarily in real estate securities and real estate-related instruments across the capital structure such as Reits and Reit-like corporate structures, mortgage Reits, mortgage originators, homebuilders, commercial brokerage companies and land developers. The fund’s launch follows that of the Cohen & Steers Global Real Estate Long-Short Onshore fund on March 31.
Voigt was previously with Cliffwood Partners, a real estate investment management firm in Los Angeles where he was portfolio manager for its absolute return real estate securities hedge fund and co-manager overseeing the short allocation for its 120/20 Value Plus strategy.
Cohen & Steers is a manager of income-oriented equity portfolios, specialising in US and international real estate securities, large cap value stocks, utilities and listed infrastructure and preferred securities. The company also offers alternative investment strategies such as hedged real estate securities portfolios and private real estate multi-manager strategies. As well as its New York headquarters, Cohen & Steers has offices in London, Brussels, Hong Kong and Seattle.