Institutional Financial Markets Inc. (IFMI) believes in the institution of the markets. Formerly a real estate investment trust named Alesco Financial (and later Cohen & Company), the company now manages and trades financial investments, specializing in credit-related fixed income assets. The company serves institutional investors. IFMI's asset management arm offers funds, separately managed accounts, collateralized debt obligations, international hybrid securities, and other investment products; it manages some $10 billion in assets. The firm also has a capital markets division, which sells, trades, and issues corporate and securitized products. IFMI has about 10 offices in the US and London.