Marcato Capital Management likes CyrusOne, ProSafe SE

NEW YORK Feb 13 (Reuters) - Shares of newly formed company CyrusOne should drmatically climb higher in the next year as the world's voracious demand for data storage increases, a prominent hedge fund manager said on Wednesday.

The company has the highest return on assets and the highest consensus revenue growth compared with its peers, Mick McGuire who runs $1.1 billion Marcato Capital Management said at the Harbor Investment Conference. But he also noted that the company, which owns 23 data centers in Texas and Ohio, is trading at a lower multiple than its peers.

Looking ahead one year, McGuire, whose fund ranked among last year's very best perfomers with a roughly 29 percent gain, said CyrusOne's share price could be as high as $34.60. The company's share price is currently trading at $22.19.

"We see a long running opportunity here," McGuire said at the conference which also featured investment ideas from Pershing Square Capital Management's William Ackman and Blue Mountain Capital's Andrew Feldstein.

McGuire also spoke about Prosafe SE, a Norwegian company, in which the hedge fund owns a stake but has not discussed publicly or disclosed on its public filings because it is a foreign company.

The company builds hotels on oil rigs and is seeing strong demand that is not driven by oil exploration or production or the price of oil, McGuire said.