Adrangi’sKerrisdale Capital Management has raised $100 million from investors. The money will be expended on betting against a single stock. Kerrisdale’s co-investment fund is the first of its kind. Often, hedge fund managers raise capital to focus on a specific investment idea like the recovery of distressed energy companies. However, Kerrisdale Capital Management, a successful company based in New York, intends to use the money to short a firm that will soon be unveiled. In an email send to investors, SahmAdrangi wrote that they had raised a considerable amount of capital in a short time. This means that they had stroke a chord within the options community. He noted that they had taken a corporation worth more than $10 billion and had worked on getting everyone on board by ensuring that people understand the insights that they have about the company.
Adrangi and Kerrisdale’s analyst, Shane Wilson, focused on the forthcoming campaign. They are working on a website, report, and video to convince others of their initiative. The fund has already started buying stock in the company with the goal of establishing its position. Over the years, Kerrisdale has been betting against companies. The corporation has a history of taking its cases public. Presently, Kerrisdale manages an estimated $500 million, which includes the recently raised funds. Some of the firms that Kerrisdale has recently short include Sage Therapeutics and Globalstar. Kerrisdale’s primary hedge fund that bets for as well as against company stocks has averaged 28 percent in annual returns for the last five years.
SahmAdrangi is the chief investment officer and the founder of Kerrisdale Capital Management. Before incorporating Kerrisdale Capital Management, Adrangi worked for Longacre Fund Management, a private investment partnership. Adrangi was the company’s investment analyst. He was responsible for researching for the credit fund and equity fund. Moreover, Adrangi worked for Chanin Capital Partners, a bankruptcy restructuring group.
Adrangi started his career by rendering his services for Deutsche Bank. He is renowned for short research activism. Sahm holds a Bachelor of Arts degree in economics from the revered Yale University. Since 2009, he has been actively involved in all aspects of Kerridale Capital Management’s operations.