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

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

Essential assets: The case for listed infrastructure

Investors’ search for diversification and inflation protection has put a spotlight on infrastructure, made brighter by massive public investment programs and the accelerating transition to a digitized, decarbonized economy.

November 2021 | 1 min

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.

PORTFOLIO MANAGEMENT

An experienced team

Arun Sharma

Portfolio Manager, Thematic Strategies

21 years of experience

Ji Zhang, CFA

Portfolio Manager, Global Real Estate

16 years of experience

+1 analyst

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.

A portfolio managers perspective Opportunities in listed infrastructure

ESG: opportunities and challenges within real estate

November 2022 | 6 mins

Environmental, social and governance issues present demonstrable risks and opportunities for real estate. Khalid Husain, Head of ESG, and Jan Willem van Kranenburg, Senior Analyst, discuss how our integrated ESG approach at Cohen & Steers assesses and values these topics as part of our investment approach among different real estate sectors and companies.

Closed-end fund commentary 3Q 2022

October 2022 | 3 mins

Closed-end funds finished the quarter down following persistent inflation and continued talk of monetary policy tightening.

Institutional Investor: The Best Real Estate Returns Come After Recessions

October 2022 | 1 min

Head of Private Real Estate James Corl spoke with Institutional Investor for a feature story on our recent whitepaper and why an optimized real estate portfolio may require access to both listed and private markets.

With Intelligence: Cohen & Steers’ new private RE group eyes discounted retail, office

October 2022 | 1 min

Head of Private Real Estate James Corl spoke to With Intelligence about the Private Real Estate Group’s current market outlook and the opportunities that the team is looking at, including retail, surban office and housing.

Recession and the roadmap for listed and private real estate

September 2022 | 17 mins

We see an economic backdrop that will create an opportunity for strong vintage returns for both listed and private real estate. Both cyclical and secular shifts are likely to create investment opportunities, and we think allocating across both private and listed real estate will be critical.

3 reasons to consider preferreds when rates are rising

September 2022 | 10 mins

Preferred securities have characteristics that can potentially help mitigate the effects of rising interest rates.

Need to contact us?

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