Search
 

Cohen & Steers Raises $300M in Fund IPO

NEW YORK CITY-Cohen & Steers Worldwide Realty Income Fund marks the parent company's first international venture. Approximately half of the fund will be used for international investments.

By Barbara Jarvie | Updated on March 29, 2005

NEW YORK CITY-Cohen & Steers Capital Management will enter the international market with its newest fund initial public offering, Cohen & Steers Worldwide Realty Income Fund Inc. The company has completed the pricing of the IPT and will issue 15 million shares at $20 per share raising a total of approximately $300 million in assets.

“It’s our first international real estate fund,” John J. McCombe, Cohen & Steers executive vice president, tells GlobeSt.com, adding that the closed-end fund will have half of its assets invested internationally. He says one of the main reasons Cohen & Steers is venturing in the international arena now is due to the adoption of REIT-like structures in other countries.

The fund’s primary investment objective is high current income with capital appreciation being a secondary objective. The fund will invest primarily in a portfolio of global real estate equity securities.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.