Paul Hilal’s Mantle Ridge Triples in Two Years

Despite roadblocks, the ex-Pershing Square pro’s CSX railroad play is roaring ahead.

(Luke Sharrett/Bloomberg)

(Luke Sharrett/Bloomberg)

Mantle Ridge, Paul Hilal’s special-purpose vehicle launched in 2016, is now up to $3 billion in assets, based on the stock gains in CSX — the sole investment of the activist hedge fund.

The gains, which represent almost a tripling of assets, are all the more notable because railroad executive Hunter Harrison, the person Hilal chose to head CSX, died months after taking the helm.

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