Nearly $100 million was raised from investors through SahmAdrangi’sKerrisdale Capital Management. An individual who has knowledge of the situation said that the money was raised to bet against a single stock. Generally hedge fund managers raise money to focus on things such as supporting distressed energy companies or aiding residential securities that are mortgage-backed. The Kerrisdale Capital Management plans to use its money to short the stock of an unveiled public company. Adrangi stated in an E-mail that Kerrisdale raised a significant amount of money in such little time so they used their advantage within the alternatives community. Shane Wilson, a Kerrisdale analyst, worked alongside Adrangi to create reports, videos, and a website to convince other individuals of their thesis. The targeted company will be released in May and the fund has begun to buy stock to initiate their position within the unnamed company. Kerrisdale is known for betting against companies and making it public. Kerrisdale’shedgefund has averaged an annual return of nearly 28% over the last 5 years; however, the fund is down by 7% starting in 2016 all the way through March and to know more
SahmAdrangi is 33 years old and he is located in New York City. Sahm is the founder and chief investment officer of Kerrisdale Capital Management which was founded in 2009. Adrangi first became known after he started shorting fraudulent Chinese companies. Sahm started his career at Deutsche Bank where he was an analyst.
Adrangi obtained a Bachelor of Arts in Economics from the University of Yale. He has held positions at Longacre Fund Management as an analyst. At Longacre he conducted investment analysis and research for credit fund and equity fund. Adrangi also worked at Chanin Capital Partners where he watched over creditors in out-of-court bankruptcy reestablishments that fall under Chapter 11.