SahmAdrangi is the founder of Capital Management and has raised roughly $100 million in investments. The funds were for betting against just one stock. The new fund is called the Kerrisdale co-investment and represents the first of this kind. Money is often raised by hedge fund managers for a specific investment such as residentially mortgaged-back securities or recovering distressed energy companies. Although Kerrisdale is just a small New York company they are planning to use the funds to short the stock of a public company that has not been unveiled yet.
According to SahmAdrangi the capital they raised was a meaningful amount and they did so in a short time. He believes this means a chord was struck with the alternatives community. This was contained in an email written by SahmAdrangi to their investors. He additionally added they took a company with a worth of more than $10 billion and tried to teach their knowledge and insights of the company to everyone. Shane Wilson is one of the analysts with Kerrisdale and has joined SahmAdrangi on upcoming campaign. They are working on a website, video, and report to show others their thesis is viable.
According to an anonymous individual the unveiling of the target company is set for May. Since the information is not ready for public release the individual can’t be identified. Apparently, the fund plans to establish themselves with the unknown company by purchasing stock. There is approximately $500 under the management of Kerrisdale including the recently raised capital. Their history shows they have taken their case public and bet against companies. Their more recent dealings show they held an activist short position with the drug makers Globalstar, Zafgen, and Sage Therapeutics. The main hedge fund of Kerrisdale bets against and for company stocks. Their average annual return for the past five years has been approximately 28 percent. From 2016 through March of 2017 the fund is alleged to be down seven percent.
SahmAdrangi founded Kerrisdale Capital and remains the Chief Investment Officer for the business. His involvement with the firm encompasses all areas of development from when it was founded in 2009. SahmAdrangi attended Yale University where he obtained a Bachelor of Arts degree in Economics. For more info about us: http://fortune.com/2016/04/21/sahm-adrangi-kerrisdale-short-sale/ click here.
SahmAdrangi has a reputation for short research activism. He originally established himself by shorting Chinese companies that were fraudulent. His career started at Deutsche Bank in leveraging financial investments. He worked as an analyst for Longacre Management which was a distressed debt hedge fund with a worth of several billion dollars.