Cohen & Steers Capital Management, Inc., based in New York, is an independent registered investment advisor specializing in the management of real estate securities portfolios. Founded in 1986 by Martin Cohen and Robert H. Steers, two of the most experienced U.S. investors in this area, the company was the first in the U.S. to focus on real estate securities. Today, the company is recognized as an industry leader and foremost innovator. AUM as of December 31, 2010 was US$34.5 billion.