SahmAdrangi doubles up as the Chief Investment Officer and Founder of Kerrisdale Capital Management. Since founding the company in 2009, SahmAdrangi has actively participated in all its development aspects. The firm raised about $100 million to bet against one stock. This money was obtained from investors. Kerrisdale Capital Management’s move is the first of its kind. Sometimes, Hedge fund managers raise money to concentrate on a particular investment thesis including recovery of residential mortgage-backed securities and distressed energy companies. However, a relatively small company based in NYC, Kerrisdale Capital Management intends to use the money to short an upcoming public company’s stock.In an email to investors, SahmAdrangi wrote that the firm had raised a considerable amount of capital very fast. He explained how together with Shane Wilson was focusing on the upcoming campaign, website, video, and more to persuade others about their thesis. The money already started purchasing stock to establish its stand in an unnamed company.Kerrisdale Capital Management, which manages about $500 million plus the newly raised money, has a record of betting against firms and making its case known to the public. Some recent Kerrisdale activist short positions include satellite company Globalstar and drug makers Zafgen and Therapeutics. Its main hedge fund bets both against and for company stocks. It averages a return of around 28% annually.
SahmAdrangi founded Kerrisdale Capital Management in 2009. He is arguably the best-known short research activist. He first came to the limelight after shorting deceitful Chinese companies. Some of these companies have since been subjected to enforcement actions by the Exchange and Securities Commission. SahmAdrangi started his career in Deutsche Bank leveraged financial investment banking group. He later became an analyst at Longacre Management, a billion dollar distraught debt hedge fund. Adrangi went to Yale University where he graduated with a Bachelor of Arts in Economics.