Philadelphia-based Cohen & Company Inc., a publicly owned investment manager that provides services primarily to individuals and institutions, manages separate client-focused fixed income portfolios. The firm invests in fixed income and alternative investment markets globally, with U.S. trust preferred securities, European hybrid capital securities, Asian commercial real estate debt, mortgage-backed securities, and asset-backed securities among its fixed income investments. Institutional Financial Markets, Inc. manages funds and collateralized debt obligations for clients. The company -- previously called Institutional Financial Markets, Inc. -- was founded in 1999 and has additional offices in New York City, Boca Raton, Chicago, Bethesda, Boston, Paris, and London.