According to Reuters, the Kerrisdale Capital Management LLC owned by SahmAdrangi has raised over one hundred million dollars for a single stock bet from investors. The co-investment fund by Kerrisdale is unique and a new concept. Most of the Hedge funds managers and companies raise money for a particular investment thesis like the recovery of a troubled energy company, but for Kerrisdale, the accumulated capital is for shortening the stock of a public company to be listed soon.
Kerrisdale Capital Management LLC is a small capital management company based in New York. And the recently written email by Adrangi states that within a short time the company raised a reasonable amount of capital. Adrangi clarified that the company has taken over a group worthy ten billion dollars. Shane Wilson and SahmAdrangi are the two Kerrisdale analysts who are in charge of the upcoming campaign, and they have videos, reports, and websites to convince more investors on their thesis. They plan to unveil their target company in mid-may, and the funds have already bought stocks to give the company a stronger position on acquiring the unnamed company.
Kerrisdale is managing a portfolio of more than $500 million that includes the recently raised money, and it has a high background of betting against other companies and publically declaring their interest. The recent short positions activities include satellite company Global star and drug makers companies like Zafgen and Sage Therapeutics. Kerrisdale primary hedge fund bets against and for company stock and it has an average of 28 percent on its annual return for more than five years.
Sahm, the Chief investment officer and founder of Kerrisdale capital investment, is a Yale graduate with a degree in art economics. He formed the company in 2009 with a capital worth of fewer than one million dollars, and currently, the firm manages a portfolio of more than five hundred million dollars. Mr. Adrangi was an investment analyst at a private investment company Longacre Fund, and before that he worked Chanin Capital Partners and Deutsche Bank. Mr. Adrangi is a publishing researcher and a speaker at various conferences. Adrangi has been interviewed by Bloomberg, CNBC and featured in Wall Street Journal’s, the Washington Post, The Newyork times and other publications.