When William Ackman, founder of activist hedge fund firm Pershing Square Capital Management, co-hosted the Harbor Investment Conference in Manhattan in February, he created plenty of buzz by invitingMark Cohenup to the stage and asking the young hedge fund manager to give an impromptu presentation on his best current investment idea. Ackman also told the crowd that he invests in Cohen’s Stone House Capital Management. Cohen, 31, launched Stone House in 2010, having previously worked as a senior analyst at New York–based long-short equity hedge fund firm Force Capital Management. The Chappaqua, New York, native, who holds a BS in economics from the Wharton School of the University of Pennsylvania, likes to run a concentrated portfolio and doesn’t fear volatility. Stone House manages only about $50 million, but as of the first quarter its long-short equity fund’s compounded net annual return since inception topped 43 percent. Ackman is Cohen’s largest investor. |
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