Neuberger has tapped two prominent figures in the REIT fund sector to build its own product line. The firm lured Elizabeth Reagan and Steven R. Brown from Cohen & Steers Capital Management. Both will become managing directors at Neuberger.

Both executives report to Peter E. Sundman who heads the Mutual Fund and Institutional business at Neuberger. The firm has been known as a specialist in value investing but has spent the time since its initial public offering building expertise in new areas. Its most recent efforts have been to build its growth fund capabilities.

The new hires, though, signal that the firm will be building its capabilities to both create and market real estate funds.

Reagan will head sales and marketing efforts at Neuberger Berman for its REIT related products and sales for the independent financial advisor channel. She held similar duties at Cohen & Steers where she was a senior vice president. Reagan joined Cohen & Steers in 1987 and managed its institutional and mutual fund sales efforts.

Brown will head up the institutional real estate securities effort for Neuberger Berman on the investment professional side of the effort. He was also a senior vice president at Cohen & Steers and managed institutional separate accounts. He was also co-portfolio manager for the Cohen & Steers Equity Income Fund and the Advantage Income Realty Fund. He joined Cohen & Steers in 1992 and had previously covered REITS, homebuilders and CMOs as an analyst at Standard & Poor's.  

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