Love of Horses Keeps Cohen Making ‘Alipony’ Payments

As an investment manager and Thoroughbred owner, Mark Cohen is plenty familiar with the many expenses that come up in life—taxes, tuition, cars, housing, and for some, alimony—as well as the steady bills that arrive to keep a racing stable up and running.

A few years ago a conversation with friends turned to talking about rising costs for those types of life expenses when Cohen brought up his own burden: his passion for horses.

“I said, ‘I have you all beat.’ I got alipony,” Cohen said. “They all laughed and we all got a chuckle out of it. I ran that one by one of my trainers and he laughed. So I said, ‘OK, that’s the name of the stable now, it’s going to be Alipony Racing.'”

The good news for Cohen is some of those bills have been tied to successful horses. One of those Thoroughbreds, Dr. Venkman , who he owns with partners Dan Agnew, Clint Bunch, and James Hailey, will start Sept. 28 in the Santa Anita Sprint Championship Stakes (G2) at Santa Anita Park. In his previous start Dr. Venkman punched a fees-paid ticket to the Breeders’ Cup Dirt Mile (G1) by winning the Pat O’Brien Stakes (G2) at Del Mar—site of this year’s Breeders’ Cup World Championships. The Santa Anita Sprint Championship also is a Breeders’ Cup Challenge Series: Win & You’re In race, offering a fees-paid berth in the Breeders’ Cup Sprint (G1).

The outcome of Sunday’s 6-furlong test will help trainer Mark Glatt and the connections with their Breeders’ Cup entry decision for the cleverly named 5-year-old Ghostzapper  gelding (Who you gonna call?). Races such as the Santa Anita Sprint Championship provide the moments that keep Cohen coming back as he recalled enjoying the excitement of Dr. Venkman’s 2024 victory in the San Diego Handicap (G2) at Del Mar with girlfriend Irina, her son, and one of his friends.

“If there ever was a time for one of those Kodak moments, or video moments, it’s when Dr. Venkman won the San Diego Handicap. It was so exciting,” Cohen said. “We all got into a big circle. They started jumping up and down in the circle and I thought, ‘I better join them, or I’m going to be stepped on.’ So it was the four of us in the box, jumping up and down.

“They loved it. As I tell people, there is no better high than winning a nice race with a nice horse or a homebred. The first time I won a race with one of my homebreds, I was walking on cloud nine for three days. And, no hangover!”

Trainer Mark Glatt said Cohen gets the most out of the ownership experience.

“He likes the excitement and the thrills,” Glatt said. “His dad was in the business for a number of years so he grew up with it. I think because of that experience he understands the highs and the lows of the sport and that there will be more lows, unfortunately. But he knows it’s a game of poker and he approaches it with an even keel.

“He’s done well for himself (in his career) and has put himself in position to enjoy this.”

Glatt said that no matter how Sunday goes, they hope to make the Breeders’ Cup and will consider both the Sprint and the Dirt Mile for Dr, Venkman.

Cohen, 63, has lived in Southern California all his life. He launched his own breeding and racing operation in 2017 but, as the son of the late Jed Cohen, he’s been involved in Thoroughbred racing since childhood. Jed Cohen began racing horses in the 1960s and enjoyed success with horses under the Red Baron’s Barn banner that included 2002 San Francisco Breeders’ Cup Mile Handicap (G2T) winner Suances and two-time grade 1 winner Janet. 

“I’d been going to races with my father all my life. We’d spend the summers at the track—sometimes not by my choice. But as I got older it would very much be my choice,” Mark Cohen said. “I remember going to the track when I was 15 and I wore braces. I’d put my sunglasses on, cover my braces with my lips, and make some bets at the track. If they were racing, we were there. It was a passion.”

In recent years Red Baron’s Barn has included such top runners as eight-time grade 2 winner Itsinthepost . Jed Cohen’s Red Baron’s Farm partnered with son Tim’s Rancho Temescal on such horses as 2020 Frank E. Kilroe Mile Stakes (G1T) winner River Boyne . After the death of Jed Cohen in November 2022, Tim continued to excel under the Rancho Temescal banner, winning the 2021 and 2023 editions of the Santa Anita Sprint Championship with Dr. Schivel   and last year’s Eddie D Stakes (G2T) with First Peace . (Those latter two also list the family’s Red Baron’s Barn among the partners.)

As for his own operation, Mark Cohen starts homebreds under his name and races other horses under the Alipony Racing banner—with many of those latter horses campaigned in partnerships. Besides Dr. Venkman, Alipony Racing is a partner on Train the Trainer , a son of Dialed In   who this year won two of the biggest stakes for New York-bred 3-year-olds—the Mike Lee Stakes and New York Derby.

Some of Cohen’s top homebreds include Andy Can U Hear Me , Suzie Qzz Brother , and Pray for My Owner . 

Tim Cohen said that while Rancho Temescal has found success bringing runners from Europe to North America, his brother’s operation has a knack for finding horses that out-punch their weight. Glatt purchased Dr. Venkman for $105,000 at the 2021 Keeneland September Yearling Sale and brought the partnership together. The conditioner did the same with Train the Trainer, landed for $52,000 at the 2023 Fasig-Tipton Kentucky Fall Yearling Sale.

“I think he enjoys going against the grain,” Tim Cohen said of his brother. “He likes looking for different qualities than what other people are looking for. He enjoys that challenge.”

Cohen credits Glatt with getting the most out of horses and with putting together successful partnerships of various owners. That approach allows Cohen to be in on more horses.

“In my business, the investment business, diversification is good. This is the same thing. You get more exposure to more horses without having as much at-risk on any one horse,” Cohen said. “My partners have all been fantastic; never had a problem with any of them. The only problem is that you have to confer and jointly make decisions, which not everybody’s always on the same page, but that has not been an issue for me with my partners, because we’re all smart enough to know that we don’t know what we’re doing and we leave it up to the trainer. We rely upon him.”

With an ownership interest in place, Cohen looks for every opportunity to enjoy the sport.

“I love having fun naming horses,” Cohen said, adding, “Like with Alipony, I was talking with my trainer, and the stallion was Temple City, so I jokingly said I should name the horse Pray for My Owner. Then I named the horse Pray for My Owner. You’ve got to have some fun with this.”

Gelding Dr. Venkman also is providing plenty of enjoyment. While he won last year’s San Diego Handicap at 1 1/8 miles, he has concentrated on sprinting this season—his 5-year-old year. The connections are considering lucrative overseas racing options for the 2026 season.

“To have a gelding that keeps racing like this is obviously a thrill, because you get to watch them run,” Cohen said, before adding with a laugh, “Now don’t get me wrong, I wouldn’t mind having a horse like Flightline. If I had to wait three years for the babies, I’d wait three years. Patience is a virtue, which I was not necessarily born with, but you have to have it in this business. 

“It’s great to be able to watch Dr. Venkman run and experience him. He’s a special horse, and he’s an honest horse. … He’s been first or second in all but two of his races.”

One of those runner-up finishes marked a bit of a full-circle moment earlier this year when Dr. Venkman’s rally proved too late to catch Roll On Big Joe  in the $220,000 Kelly’s Landing Stakes (G3) June 28 at Churchill Downs. Roll On Big Joe is campaigned by Rancho Temescal, Rancho Temescal Thoroughbred Partners, White Fence, and Richard Hale Jr.

The brothers have been able to share their passion for racing throughout their lives.

“It keeps us certainly intertwined, and I’m always happy when he does well, so it’s exciting to see him enjoy success,” Tim Cohen said.

“It’s great. We have the same interests,” Mark Cohen noted. “The race at Churchill that we ran against each other, that was a little disconcerting. That was a little tough one to take. But if I’m going to lose, I guess I’d rather lose to my brother. It’s great. We both share the same interest. 

“The family, except for my sister (Linda), was always very interested in the horses. We always talked about horses growing up while going to the track or going to the ranch or going to the barn and looking at the horses. It’s a passion that you are able to enjoy with somebody who appreciates it and understands the difficulty of the business. Because when you get when you get those moments of joy, you better remember them, because they don’t happen very often.”

While Alipony Racing humorously references the many expenses in the Sport of Kings, Cohen puts his financial adviser hat away when it comes to racing. The rewards are well beyond dollars and cents.

“It’s just a genuine, absolute love and passion for horses. I just love them; always have,” Cohen said. “They’re just majestic, beautiful-looking animals and like people, they have personalities. Some are really smart. Others might have to repeat a grade or two, but they’re all just wonderful animals to be around.”