Kerrisdale Capital Management’s CEO and founder, Sahm Adrangi has gathered in the recent past one hundred million dollars from investors. The fund is planning to short stock an upcoming public company. This information was given to the Reuters by a person who has the insight into the plan. The person did not want his identity known to the public as the matter was not to be released to the public.
Being a relatively small company, the big sum of money the co-investors raised was one of a kind that the company has ever raised in a single event since its launching. It is common for a large sum of money to be raised by hedge fund managers especially when it comes to helping a power plant facing challenges or even crisis in mortgage security. Kerrisdale plans to use the money in betting against an unnamed public company that is intended to be launched in the mid of May.
The success in gathering the amount is a clear indication of the firm’s success in winning the trust of the community according to an email that Adrangi wrote to the investors. Adrangi went on to say that they have succeeded in taking the $10 worth company. Adrangi together with his colleague, Shane Wilson is now planning on items to us in convincing the public of their intentions. Kerrisdale has already started sinking roots into the company as they have already begun buying stock.
Sahm Adrangi launched the Kerrisdale Capital Management in the year 2009 with a capital less than 1 million dollars. He has involved himself actively as the Chief Investment Officer to ensure that the company grows. The firm is currently managing about five hundred million dollars with the new amount collected.
Sahm Adrangi graduated with Bachelor of Arts in economics and started his career at Deutsche Bank in finance. He was responsible for credit in which he performed excellently to leverage loan debt financing. In addition to this, he was also an advisor to the creditor committee at the Chanin Capital Partners. Afterwards, he was involved in the multi-billion-dollar distressed debt hedge fund.
For details: www.kerrisdalecap.com/