HARTFORD, Conn., May 17 /PRNewswire/ --
CIGNA Corporation (NYSE: CI) announced today that it has
established TimesSquare Real Estate Investors to meet the U.S. real
estate equity investment needs of pension plan sponsors and other
TimesSquare Real Estate Investors, formerly known as CIGNA Real
Estate Investors, will operate as a division of TimesSquare Capital
Management, Inc. (TimesSquare Capital Management), formed earlier this
year as an independent asset management business focused on developing
highly competitive investment products for the institutional
"TimesSquare Capital Management has already assembled a core
fixed income team with a proven investment approach and a strong
historical track record," said Robert J. Moore, president of
TimesSquare Capital Management. "The integration of our U.S.
equity real estate team expands and strengthens our capabilities, and
accentuates our commitment to provide institutional investors with a
comprehensive suite of superior investment solutions."
TimesSquare Real Estate Investors will take advantage of existing
expertise in equity real estate investing and will add new capabilities,
as appropriate, to continue to meet the high performance and service
expectations of institutional clients. The business currently pursues
two U.S. equity real estate strategies, a core strategy and a
"value creation" strategy.
The core strategy provides the potential for strong income and
consistent total return by investing in a high quality real estate
portfolio, broadly diversified by property type and geographic location.
The value creation strategy seeks higher risk-adjusted returns through
properties that are developed, rehabilitated or repositioned with the
use of moderate leverage.
"TimesSquare Real Estate Investors builds upon our four
decades of experience in equity real estate investing by establishing a
new organizational structure firmly dedicated to meeting the unique
investment needs of institutional investors," said David R.
Johnson, managing director and head of TimesSquare Real Estate
Investors. "Becoming part of TimesSquare enhances our position as
a leading real estate equity manager and underscores the independent,
entrepreneurial culture of our organization -- a culture aligned with
the interests of clients and consistent with the environment found in
leading investment management firms."
TimesSquare Capital Management, with active management expertise in
U.S. fixed income, stable value, high yield, U.S. indexed equity and
U.S. real estate equity, manages approximately $40 billion for pension
and retirement plans http://deangraziosi.tumblr.com/AboutDean and other institutional investors. The
organization is headquartered in New York, with regional affiliates in
Hartford, London and Tokyo. To contact TimesSquare Real Estate
Investors, please call http://gainvesting.com/ Dave Johnson at 860-726-6196.
The TimesSquare Capital Management Web site is
Media calls should be directed to:
Ken Ferraro, CIGNA Public Affairs
Hank Green, Stan Adler Associates