Kerrisdale Capital Management, which is headed by Sahm Adrangi has raised almost $100 million from investors. The money raised will be channeled towards betting against a single stock. The latest Kerrisdale co-investment fund seems to be the first of its kind. Regularly, hedge fund managers raise money to focus on a specific investment idea like the recovery of residential mortgaged-backed securities or distressed energy companies. Nonetheless, Kerrisdale plans to use the cash to short the stock of a yet to be unveiled public company.
Writing to investors, Adrangi pointed out that they raised a sizable amount of capital within a short period. According to him, it is a sign that they had struck a chord in the alternatives community. Adrangi added that they had taken a firm that is worth over $10 billion and tried to get every investor to understand the kind of insights that they had about the company.
Adrangi and Shane Wilson, an analyst at Kerrisdale, are focusing their energies on the upcoming campaign. They are working on several materials that will convince others about their idea. These materials shall be conveyed to the public through the website, report, and video. Already, Kerrisdale has started buying stock in the target company with a goal of establishing its position.
Presently, Kerrisdale is managing about $500 million, including the new money raised. The corporation has a record of betting against firms and taking their case public. Some of its most recent short positions include Globalstar, a satellite company and drug makers Zfgen and Sage Therapeutics.
About Sahm Adrangi
Sahm Adrangi is the chief investment officer and founder of Kerrisdale Capital Management. Adrangi has been involved in all aspects of the business’s development since 2009. He incorporated the noble corporation with less than $1 million.
Adrangi, who is well known for short selling and publishing research, made a name for himself by shorting and exposing fraudulent Chinese firms like China Marine Food Group. His firm’s research seeks to correct the misconceptions surrounding their important business prospects. Sahm has delivered his speech in different conferences, including the Value Investing Conference. Adrangi graduated with his bachelor’s degree in economics from the world-renowned Yale University.
Learn More : https://www.linkedin.com/in/sahm-adrangi-3548541