The Kerrisdale Capital Management raised nearly $100 million to go against a single stock from investors, someone that understood the situation told Reuters. It appears as if the new Kerrisdale “co-investment” fund is the first of its kind. The Managers at Hedge fund sometimes raised money that would focus on a given investment thesis, like the recovery of troubled energy firms or residential mortgaged securities. Nonetheless, the New York firm plans to use the money to stock a company that would be availed soon. According to an email reviewed by Reuters, SahmAdrangi notes that the firm had raised a meaningful amount of capital within a short time, hence they had struck a chord within the alternative community. Shane Wilson, an analyst at Kerrisdale, focused on the upcoming campaign and Adrangi are working on a website, report, video among others to convince others about their thesis.
Adrangi added in the note that they had taken the firm’s worth close to $10 billion and they had endeavored to get everyone to comprehend the insights they had, concerning it. The targeted company was scheduled to be unveiled in Mid-May according to a person who spoke on condition of anonymity since the information was not supposed to be released to the public. According to the letter, the firm had started establishing a position in the unnamed company.
SahmAdrangi, founder and Chief Investment Officer of Kerrisdale Capital Management, began his career in credit-performing as well as leveraged loan debt financings at Deutsche Bank. Besides, he served as an advising creditor committee in the bankruptcy and restructuring situations at Chanin Capital Partners. Before he had invested in banking experience, Mr. Sahm spent many years at a multi-billion-dollar hedge fund, Longacre Management.
The Bachelor of Arts in Economics degree holder from Yale University has been a speaker at various conferences such as the Value Investing Conference, Sohn Conference, the Distressed Debt Investing Conference, Traders 4 a Cause and the Activists Investor Conference. Furthermore, he appeared in interviews on CNBC as well as Bloomberg in addition to featuring in major publications such as the New York Times, Business Daily, the Wall Street Journal, BusinessWeek, the Washington Post among others.