CenterSquare Investment Management, a real estate investment subsidiary of BNY Mellon, has rolled out a new institutional investment strategy that will invest in global infrastructure through publicly traded companies.
The strategy will invest in companies across the world that manage, own or develop long-term real assets related to energy, communications, water, transportation, and other systems essential to a functioning economy.
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The infrastructure strategy aims to focus on firms managing real assets with strong cash flow visibility, low direct commodity exposure, long duration contracts, and a steady long-term demand outlook.
CenterSquare said that its global listed infrastructure team will be headed by portfolio managers Maneesh Chhabria and Joshua Kohn.
Todd Briddell, CEO and CIO for CenterSquare, said: "Global infrastructure assets are vital to economies worldwide and yet are significantly underfunded and underdeveloped. We see an opportunity to manage a liquid alternative asset class that features strong and historically stable yields and is poised for growth, driven by both economic and secular trends."
"The global listed infrastructure strategy is a natural extension of CenterSquare’s expertise in listed real estate. As in listed real estate, the return and risk characteristics of global infrastructure securities are based on the underlying real assets," added Briddell.
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By GlobalDataFounded in 1987, CenterSquare manages nearly $6.8bn in public real estate securities through CenterSquare Investment Management as of 30 September 2014.
