While most hedge fund managers raise funds to focus on certain investment like recovery of distressed energy companies, Kerrisdale Capital Management appears to take a different approach. The company has raised $100 million from investors for its new “co-investment” fund that seeks to short a single stock of a public company that will be unveiled in May. Through an email reviewed by Reuters, SahmAdrangi, the founder of Kerrisdale Capital Management, said that they have raised a significant amount of capital within a short time, a significant achievement in the alternatives community. He explained that they have targeted a company worth $10 billion. Sahm posited that he would provide more information about the company in due course. Adrangi, together with Kerrisdale’s analysts, are working towards promoting the campaign through reports, videos, and website.
SahmAdrangi serves as the chief investment officer of Kerrisdale Capital Management, a New York-based investment manager. The company’s assets are worth $500 million. The company specializes in event-driven special situations and long-term value investments. Through their website and third party websites, Kerrisdale actively shares investment insights with a diverse investment community. Founded in 2009, Kerrisdale Capital Management is highly experienced in betting against companies and going public. Their recent targets include Zafgen and Sage Therapeutics, two renowned pharmaceutical companies, and Globalstar, a successful satellite company. According to information shared anonymously, the company’s leading hedge fund has averaged an annual return of around 28 percent for the past five years.
SahmAdrangirose to prominence in short research activism after shorting fraudulent Chinese companies. Most of these Chinese companies have since become a subject of law enforcement target by the SEC. Sahm career in the financial industry started at Deutsche Bank. The executive was working in the leveraged finance investment banking division. He also served as an analyst for Longacre Management, a multi-billion-dollar distressed debt hedge fund. Before joining Longacre, the investment expert worked as an analyst for Chanin Capital Partners. He is credited for his leading role in advising creditors in chapter 11 and out-of-court bankruptcy restructuring. Sahm is an alumnus of Yale University where he graduated with a Bachelor of Arts degree in economics.