US property investment firm Cohen & Steers Inc and private equity manager IDR Investment Management have collaborated to launch a strategy for investing in listed real estate securities and core private real estate.
The strategy will seek to capitalise on valuation mispricing that can occur between the listed and private real estate markets, Cohen & Steers says in a statement on May 15.
“There is a lead-lag dynamic in real estate investing in which listed performance leads private in both downturns and recoveries, creating pricing differential opportunities for investors,” according Jon Cheigh, the company’s president and chief investment officer.
New York-based Cohen & Steers had US$87.6 billion of assets under management as of March 2025, while Cleveland-headquartered IDR manages around $8.5 billion of assets.