News reaching the Reuters from familiar sources indicates that Kerrisdale Capital Management under the leadership of Sahm Adrangi has reportedly raised $100 million from its investors resulting from a bet against a single stock. Such co-investment remains the first to be witnessed at Kerrisdale since most hedge fund managers raise cash to help fund specific investments like the recovery of distressed energy firms or residential mortgage-backed securities. Nevertheless, Kerrisdale as small as it is planning to use the money to short the stock of the unidentified company.
In an email addressed to the investors, Sahm Adrangi clarified that the company raised an impressive amount of capital in the shortest time frame thereby striking a chord within the alternative community. He further added that Kerrisdale had taken a firm worth $10 billion and planned on helping the other investors understand the insights of that investment through the provision of a report, video, and website.
According to the anonymous individual reporting to Reuters, the target firm will be revealed mid-May 2017. Furthermore, Kerrisdale had already started purchasing stock to establish its rank in the undisclosed company. Kerrisdale presently manages over $500 million inclusive of the new amount raised. The company is known for betting against firms and taking the incident public. In the recent past, it has short positions for organizations like Sage Therapeutics Inc., Zafgen Inc., and Globalstar Inc.
About Sahm Adrangi
Sahm Adrangi is a 33-year-old investment executive based in New York. Presently, he is the co-founder and Chief Investment Officer at Kerrisdale Capital Management. Prior to joining Kerrisdale, Mr. Adrangi operated as an analyst in three other organizations including Longacre Fund Management LLC, Chanin Capital Partners, and Deutsche Bank where he holds impressive track records.
Additionally, Sahm Adrangi is a research activist who first came into the limelight after he exposed shorting deceiving Chinese firms making some to be a subject of enforcement handled by the Securities and Exchange Commission. Additionally, Sahm also is a public speaker and has spoken at several gatherings including the Value Investing Conference the Activist Investor Conference and the Sohn Conference amongst several others. Mr. Adrangi is a Bachelors of Arts holder with a specialization in Economics attained from Yale University.
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