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CBRE Investment Management Listed Real Assets LLC
CBRE Investment Management Listed Real Assets LLC manages publicly traded real estate and infrastructure securities within CBRE Group's $143.9B platform.
CBRE Investment Management Listed Real Assets LLC
CBRE Investment Management Listed Real Assets LLC was established as part of CBRE Group's expansion into publicly traded real assets strategies — a segment within CBRE Investment Management, the global investment management arm of CBRE Group. The firm focuses on listed real estate and infrastructure securities, offering strategies that span global and regional REITs, infrastructure equity, and real asset multi-asset portfolios. Its parent, CBRE Investment Management, reported $143.9 billion in AUM in its 2023 annual filing and operates offices in the Americas, Europe, and Asia Pacific. The firm's strategy targets liquid real asset exposures, including a global REIT portfolio with positions in companies such as Prologis and Equinix, and infrastructure holdings in sectors like energy transition and transportation. CBRE Investment Management engages in both direct property and listed securities, with the listed real assets team managing a subset focused on publicly traded instruments. Geographic coverage spans developed markets in North America, Europe, and Asia Pacific, per CBRE's public disclosures. CBRE Investment Management Listed Real Assets LLC is one of several specialized units under CBRE Investment Management, which also includes private real estate and infrastructure divisions. The broader platform employed over 500 investment professionals as of 2023 and maintained offices in major financial centers including New York, London, and Singapore. In April 2024, CBRE Investment Management closed its first core-plus infrastructure fund at $2.5 billion, reflecting ongoing product development across the real assets landscape, though that vehicle is private, not listed (per CBRE, April 2024). The structural differentiator for this firm lies in its position within a publicly traded parent company, CBRE Group (NYSE: CBRE). This corporate structure provides governance consistency with public company disclosure obligations, a proximity to CBRE's global real estate data and research platform, and the ability to offer listed real assets strategies within a broader, multi-asset real assets platform. The listed focus distinguishes it from CBRE's larger private real estate investment arm, allowing institutional clients to access real assets through liquid public markets rather than illiquid direct holdings.
General information
Firm type
Asset Manager
Year founded
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AUM
Undisclosed
Location
Region
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Country
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City
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Corporate office
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Sector focus
Frequently asked questions
Who runs investment decisions at CBRE Investment Management Listed Real Assets LLC?
The firm's listed real assets team operates under the global CBRE Investment Management umbrella, which is led by Chief Investment Officer David Chen as of 2023. The specific portfolio managers for the listed real assets strategies are not publicly disclosed, though the broader platform employs an investment committee structure. For current personnel, the firm's official website or SEC filings may provide the most recent information.
How does CBRE Investment Management's listed real assets unit source deal flow?
As a listed securities manager, this team sources investments through public equity and bond markets rather than direct acquisitions. They rely on CBRE Group's proprietary real estate data platform, its global research team, and fundamental credit analysis. This approach differs from the private real estate arm, which sources direct property and infrastructure deals.
Is CBRE Investment Management Listed Real Assets LLC structured as a single-family office?
No, it is an institutional asset manager and a subsidiary of CBRE Group, a publicly traded company on the NYSE under the ticker CBRE. It is not a family office — its clients are typically institutional investors such as pension funds, insurance companies, and sovereign wealth funds seeking liquid real asset exposure.
Does CBRE Investment Management's listed real assets team participate in fund commitments or only direct deals?
It primarily manages separate accounts and commingled funds that invest in publicly traded real estate and infrastructure securities. These are not direct property or infrastructure deals — the investments are in listed REITs and infrastructure equities. The parent CBRE Investment Management also runs closed-end private funds for direct real assets, but those are managed by separate teams.
What investment stages does this CBRE entity typically target?
The firm targets liquid public market strategies across real estate and infrastructure sectors. It does not invest in early-stage or venture-stage companies — its holdings are publicly traded operating companies. Stage focus includes core, core-plus, and growth-oriented listed securities, with a bias toward developed market stability.
Which sectors does CBRE Investment Management Listed Real Assets LLC explicitly avoid?
The firm avoids direct property ownership and illiquid infrastructures — those are covered by CBRE Investment Management's private real estate and private infrastructure teams. It also does not invest in private equity, venture capital, or hedge fund strategies. Its focus is strictly on listed real estate and infrastructure securities.
Where does the underlying wealth come from that funds this firm?
The firm does not manage family wealth — it is an institutional asset manager with capital from pension funds, endowments, insurance companies, sovereign wealth funds, and other institutional investors. CBRE Group is a publicly traded corporation, and its investment management arm derives capital from third-party institutional clients.
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