In the recent past, Sahm Adrangi raised $100 million to bet against a single stock. The Kerrisdale Capital Management’s chief investment officer raised the money from investors across the company. The bet will be the first of its kind. Investment companies have always raised funds to finance the recovery of ailing companies rather than to bet against a single company’s stocks. This investment approach has seen the recovery of distressed energy companies and residential securities. Kerrisdale’s new ‘co-investment’ fund deviates from this tradition. Kerrisdale Capital Management is a revered investment firm that is based in New York.
In an email addressed to investors, Adrangi said that he was pleased with the success of the fund-raising drive. He notes that despite the short notice, the investors were able to contribute the amount that the company needed to invest using a new strategy in the industry. He confirmed his confidence that the bet would be successful and every investor would get his or her returns. Adrangi is working closely with an analyst of Kerrisdale, Shane Wilson, to market the company’s upcoming campaigns. The duo is working on video, reports, and website contents to explain in detail the campaign to other investors. They hope that this strategy will help to convince the investors to invest in their future campaigns.
Presently, Kerrisdale has over $500 million under its management. It is has a history of successfully betting against companies and disclosing the information to the public. In the recent years, it has short companies such as Zafgen, Sage Therapeutics, and Globalstar.
About Sahm Adrangi
Sahm Adrangi is a respected financial expert and trader. The investor is the founder of the Kerrisdale Capital Management. He incorporated the company in 2009 with less than $1 million. Over the years, the company has grown exponentially.
Adrangi started his career at Deutsche Bank where he was charged with the duty of managing the company’s high-yield and leveraged loan debt financing. In addition, he worked for Chanin Capital Partners as a credit advisor. Adrangi has delivered speeches at some of the world’s key conferences, including the Distressed Debt Investing Conference and the Value Investing Conference. The shrewd entrepreneur is an alumnus of the prestigious Yale University where he pursued his Bachelor’s of Arts degree in economics.
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