Cohen & Steers Files for IPO

NEW YORK CITY-Another private company is choosing to go the public route as Cohen & Steers Inc. files a registration statement with the SEC for the initial public offering of common stock. With $15.4 billion in assets under management, the locally based firm specializes in REIT common and preferred stocks serving individual and institutional investors.

Last month, Cohen & Steers REIT and Utility Income Fund Inc., launched in January, priced a total of $570 million in auction market preferred shares. After the sale of the new shares, the fund’s managed assets will total approximately $1.7 billion. Also in March, the company launched Cohen & Steers Select Utility Fund and issued 41.3 million shares at $20 per share, expecting to raise approximately $825 million in assets. According to the company, the fund’s combined assets could be more than $1.3 billion.