Joseph P. Smith
About Joseph P. Smith
Joseph P. Smith is President and Chief Executive Officer of CBRE Global Real Estate Income Fund (the Trust) effective January 1, 2022; he was born in 1968 and also serves as an officer of the Trust’s investment adviser, CBRE Investment Management Listed Real Assets LLC (the Adviser) . He is Chief Investment Officer—Listed Real Assets at the Adviser (since 2021) and previously served as Co-Chief Investment Officer of CBRE Clarion Securities LLC (2016–2020) . The Trust’s officers (including Mr. Smith) are employees of the Adviser, and their fees, salaries, or other remuneration are borne by the Adviser, not the Trust . Executive-specific TSR, revenue growth, or EBITDA growth metrics for Mr. Smith are not disclosed in the Trust’s proxy statements .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| CBRE Clarion Securities LLC | Co-Chief Investment Officer | 2016–2020 | Not disclosed in proxy |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| CBRE Investment Management Listed Real Assets LLC | Chief Investment Officer—Listed Real Assets | 2021–present | Not disclosed in proxy |
Fixed Compensation
The Trust’s principal executive officers (including Mr. Smith) received no compensation from the Trust; compensation is paid by the Adviser.
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Compensation from the Trust ($) | $0 | $0 |
Performance Compensation
- The Trust does not disclose executive bonus metrics, equity awards (RSUs/PSUs/options), targets, or payouts for Mr. Smith; officers’ compensation is borne by the Adviser and not paid by the Trust .
- Each of the Trust’s officers also serves as an officer of the Adviser, reinforcing that compensation design and performance metrics are set at the Adviser level (not disclosed in the Trust’s proxy) .
Equity Ownership & Alignment
- Individual officer beneficial ownership details for Mr. Smith are not itemized in the proxy; however, as of June 30, 2025, each Trustee and the Trustees and officers of the Trust as a group owned less than 1% of the Trust’s outstanding shares .
| Metric | As of Jun 30, 2025 |
|---|---|
| Officers and Trustees as a group – % of outstanding shares | <1% |
Notes:
- The proxy discloses dollar ranges only for Trustees’ holdings, not for officers; no pledging, hedging, or guideline compliance details are disclosed for Mr. Smith .
Employment Terms
- Appointment: President and Chief Executive Officer effective January 1, 2022 .
- Employment/Compensation locus: Officers are employees of the Adviser; fees, salaries, and other remuneration are borne by the Adviser, not the Trust .
- Severance, change-in-control, vesting acceleration, clawbacks, tax gross-ups, and non-compete/non-solicit terms are not disclosed in the Trust’s proxy for Mr. Smith .
Investment Implications
- Pay-for-performance transparency is limited at the Trust level because executive compensation (including metrics, mix, vesting, and payout design) resides with the Adviser and is not disclosed in the Trust’s proxy; this opacity makes it difficult to assess direct alignment to Trust TSR or distribution stability .
- Insider selling pressure from Trust-granted equity is likely minimal given the absence of Trust-paid compensation and lack of disclosed Trust equity awards; group beneficial ownership (Trustees and officers combined) is under 1%, indicating modest direct “skin in the game” at the Trust level .
- Retention and incentives for Mr. Smith are primarily driven by Adviser-level arrangements; any signal on alignment or risk would therefore emerge from Adviser disclosures or future Trust filings that specifically address executive arrangements (none provided to date in the proxies reviewed) .