# Cbre Investment Management Listed Real Assets LLC

> Cbre Investment Management Listed Real Assets LLC is an SEC-registered investment advisory firm in Radnor, PA, registered since 1995, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 106256
- Filed as: CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Radnor, PA
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106256
- AdvisorCensus page: https://advisorcensus.com/firm/cbre-investment-management-listed-real-assets-llc-radnor-pa-106256

## Quick answers

**How is Cbre Investment Management Listed Real Assets LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Cbre Investment Management Listed Real Assets LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Cbre Investment Management Listed Real Assets LLC located?**
Cbre Investment Management Listed Real Assets LLC's principal office is in Radnor, PA, according to its Form ADV; the April 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Cbre Investment Management Listed Real Assets LLC registered with the SEC or a state?**
Cbre Investment Management Listed Real Assets LLC is an SEC-registered investment advisory firm, registered since 1995. Status as filed: Approved. CRD 106256.

**How much does Cbre Investment Management Listed Real Assets LLC manage?**
Cbre Investment Management Listed Real Assets LLC reports $10,800,860,665 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).

**How have Cbre Investment Management Listed Real Assets LLC's assets and staff changed since 2021?**
In the Form ADV data for Cbre Investment Management Listed Real Assets LLC: Regulatory assets under management: $7,743,375,558 in the October 2021 data and $10,800,860,665 in the October 2026 data, up 39%. Total employees: 62 in October 2021 and 60 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Cbre Investment Management Listed Real Assets LLC serve?**
By number of clients on Form ADV Item 5.D: state or municipal government entities (including government pension plans) (15); pooled investment vehicles (other than investment companies and business development companies) (13); investment companies (6).

**Which custodians does Cbre Investment Management Listed Real Assets LLC use?**
Cbre Investment Management Listed Real Assets LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Citibank, JP Morgan and Northern Trust as custodians holding 10% or more of its separately managed account assets.

**Does Cbre Investment Management Listed Real Assets LLC report any disciplinary disclosures?**
Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation) and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106256

**What changed in Cbre Investment Management Listed Real Assets LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $8,971,391,447 to $10,800,860,665 (+20%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Citibank
- JP Morgan
- Northern Trust

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $10,800,860,665
- Discretionary: $10,800,860,665
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 6 | $3,772,385,405 |
| Pooled investment vehicles (other than investment companies and business development companies) | 13 | $2,226,101,420 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 5 | $816,613,717 |
| Charitable organizations | 5 | $115,811,803 |
| State or municipal government entities (including government pension plans) | 15 | $2,330,755,178 |
| Insurance companies | Fewer than 5 | $1,121,449,969 |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $248,956,245 |
| Corporations or other businesses not listed above | Fewer than 5 | $168,786,928 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1995 (31 years)
- Employees: 60 total, 30 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: PA
- Disclosures (Item 11): Reports 2 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106256

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- London
- Sydney Nsw 2000
- Tokyo

### Websites listed on Form ADV (Item 1.I)
- cbreim.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $7,743,375,558 | 62 | March 30, 2021 |
| October 2022 | $11,837,165,977 | 62 | March 30, 2022 |
| October 2023 | $10,052,324,824 | 65 | April 18, 2023 |
| October 2024 | $9,790,237,824 | 64 | April 5, 2024 |
| October 2025 | $8,971,391,447 | 61 | March 31, 2025 |
| October 2026 | $10,800,860,665 | 60 | March 30, 2026 |

Regulatory assets under management: $7,743,375,558 in the October 2021 data and $10,800,860,665 in the October 2026 data, up 39%.
Total employees: 62 in October 2021 and 60 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $8,971,391,447 to $10,800,860,665 (+20%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Cbre Investment Management Listed Real Assets LLC (CRD 106256): Form ADV filing data as of October 2026.