WHY COHEN & STEERS

Experienced global investment team

Our investment team is one of the largest dedicated to listed infrastructure investing, with leadership that has overseen our infrastructure investing since 2004

First-mover advantage

Development of new investment strategies focused on the digital infrastructure ecosystem

Industry access

Global investment teams provide on the ground access to companies and assets

WHY DIGITAL INFRASTRUCTURE

Access to the next generation of infrastructure

Companies that we believe facilitate or benefit from the secular trend of exponential growth of data usage and the evolution of the digital infrastructure ecosystem

Concentrated portfolio and approach

Designed to minimize overlap with commonly held technology names

Real Assets

Multi-sector exposure

Targets a balance of larger secular winners and smaller, less well-known companies that can drive alpha across three segments: infrastructure, hardware and software

The growth and importance of data in societies and economies has continued to increase as digital solutions are adopted by consumers. Businesses rely more heavily on data to make decisions and differentiate themselves. A growing number of data points are continuously generated and require a variety of industries to facilitate transfer and usability. This puts the owners, operators and developers of digital infrastructure assets in a unique position.

The Cohen & Steers Digital Infrastructure Strategy employs a total-return, relative-value approach to investing in global listed infrastructure. The strategy invests in companies that we believe facilitate or benefit from the exponential growth of data usage and the evolution of the digital infrastructure ecosystem. The strategy accesses the growing demand for digital infrastructure across three different segments: infrastructure, hardware and software. The strategy seeks to generate capital appreciation over an entire business cycle.

Our portfolio managers are able to draw upon digital experts across both our listed real estate and infrastructure teams. These experienced resources are dedicated to analyzing infrastructure, real estate, and digital asset securities.

FEATURED INSIGHT

3 Reasons to own global listed infrastructure today

Attractive valuations, an advantageous macro environment and high private investor interest set the stage for potentially strong total returns from listed infrastructure.

April 2024 | 6 mins

WHY INVEST WITH US

Delivering value to our clients

Cohen & Steers has been investing in listed infrastructure since we launched our flagship Global Listed Infrastructure Strategy in 2004. Based on our commitment to global listed infrastructure and our drive for excellence, we have built a platform positioned to outperform our peers and deliver compelling returns for our clients.

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PORTFOLIO MANAGEMENT

An experienced team

Arun Sharma

Portfolio Manager, Thematic Strategies

22 years of experience

Ji Zhang, CFA

Portfolio Manager, Global Real Estate

17 years of experience

+1 analyst

PORTFOLIO SPECIALIST GROUP

Supporting our investment team and clients

Michelle Butler

Senior Portfolio Specialist

29 years of experience

Evan Serton

Senior Portfolio Specialist

23 years of experience

As data has become irreplaceable for societies and critical drivers for many companies’ growth, the evolution of the digital ecosystem is now a powerful secular trend, and we believe there is a multiyear growth opportunity within digital infrastructure.

Digital transformations are positively affecting many industries

which creates a diversified investment universe to capitalize on the trend.

We believe a broad exposure to the entire data value chain

allows for tactical allocation while remaining exposed to the theme of digitalization.

The strategy could help broaden an existing infrastructure allocation

or a thematic allocation to increase exposure to this long-term secular trend.

APPROACH

Our investment process

The strategy’s process is intended to create a concentrated portfolio of companies that derive significant revenues from the digital infrastructure ecosystem.

Investment universe
Our core investment universe includes owner/operators of the large-scale infrastructure, physical hardware, and digital software assets that create, and derive significant revenues from, the digital infrastructure ecosystem. We eliminate illiquid securities and companies that do not have the secular/cyclical characteristics we seek.

Fundamental research
Analysts are responsible for conducting detailed bottom-up research, developing high-conviction views on fundamentals and valuations on the companies they cover. We continually reassess management’s capabilities to add value and deliver on its goals. In addition, we integrate ESG factors into our research and valuation models.

Subsector analysis
The team assesses global investment cycles, product cycles, and economic cycles for investment opportunities and evaluates trends at the subsector level. We use a proprietary sub-sector allocation framework and a multi factor ranking model to screen subsectors based on both a fundamental and valuation basis.

Portfolio construction
After we have determined subsector positioning, outputs from security-level models quantify relative value within each subsector. As valuations change, we rotate capital among individual securities. Risk management, diversification, liquidity and other factors are also key considerations.

Capital Market Assumptions

Capital Market Assumptions: Expectations for the next 10 years amid a generational change for markets

June 2024 | 22 mins

We expect higher fixed income and real asset returns alongside lower U.S. equity returns for the next decade.

3 Reasons to own listed infrastructure

3 Reasons to own global listed infrastructure today

April 2024 | 6 mins

Attractive valuations, an advantageous macro environment and high private investor interest set the stage for potentially strong total returns from listed infrastructure.

Investing in the future of energy

Investing in the future of energy

April 2024 | 3 mins

Global energy demand is poised for substantial growth in the coming decades, which is creating attractive investment opportunities across the alternative energy landscape and the traditional energy value chain.

Why the consensus approach to energy investing is flawed

Why the consensus approach to energy investing is flawed

April 2024 | 10 mins

Investors have increasingly viewed energy through an either/or lens, taking a zero-sum view, and limiting their investments to traditional or alternative energy forms. This is a flawed approach.

Changing the narrative from ‘energy transition’ to ‘energy addition’

Changing the narrative from ‘energy transition’ to ‘energy addition’

April 2024 | 29 mins

Aggregate energy demand will continue to increase in the coming decades, which is creating attractive investment opportunities across both the traditional and alternative energy landscape.

InvestmentNews: Cohen & Steers strategist sheds new light on investing in energy sector

InvestmentNews: Cohen & Steers strategist sheds new light on investing in energy sector

March 2024 | 1 min

Portfolio Manager Tyler Rosenlicht joined InvestmentNews’ IN the Nasdaq to discuss his outlook for the future of energy and why he believes existing investment strategies provide a limited view of the asset class. He discusses why global energy demand is driving the need for energy addition, requiring both traditional and alternative energy to satisfy this demand.

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We’d be happy to answer questions about our investment solutions or any corporate-related inquiries.