Sahm Adrangi, the Chief Investor at Kerrisdale Capital Management has managed to raise virtually $100 million with the aim of investing in a single stock; a reliable source told Reuters. The stand-alone co-investment by the New York-based firm plans to use the amount to short the stocks of a yet-to-be-revealed company.
“We managed to raise a substantial amount within a short time, which allowed us to strike a chord within the alternative community. We have acquired a $10 billion-worth company and strive to get everyone to understand the insights we have gathered regarding it,” Adrangi wrote in an email to investors.The fund has already been put into the acquisition of stocks, so it establishes its position in the company (TBD). However, the mysterious firm is to be unveiled in mid-May, since the report is still not ready for public release.
Inclusive of the fund raised, Kerrisdale’s value stands at $500 million, most of which is owed to the company’s rich history of betting against competitors. Examples of its recent activist short position are Sage Therapeutics and Zafgen and Globalstar, a satellite company.
About Sahm Adrangi
He is the founder and the Chief Investment Officer of Kerrisdale Capital Management. Since 2009, he has played an integral part in the growth and development of the firm and has seen it grow from its initial worth of $1 million to its current value of $150 million by July 2017.
Mr. Adrangi, widely recognized for short selling and print-media research, has managed to shed light on his company’s view on stocks which have been misunderstood by the market. This information is shared through the firm’s website third-party sites and on Twitter.
Apart from publishing research, Mr. Adrangi has assumed an activist role in a number of investments. In 2013, he involved Lindsay Corporation LLC. In optimizing the firm’s cash deployment and fund allocation policies.
Before forming Kerrisdale Capital Management, Sahm Adrangi served as an Analyst at Longacre Fund Management LLC from April 2007 to February 2009. In 2005. He joined Chanin Capital Partners, where he played a significant role in analyzing the bankruptcy restructuring division of the New York and Los Angeles based bank.
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