Sahm Adrangi’s Kerrisdale Capital Management, a New York located firm, began its journey on July 1, 2009 delivering net returns of 1,152.3%, compare this against the S&P 500 return of 164.5%.
Heads continued to look up and take notice as Kerrisdale raised approximately $100 million from investors to bet against one single stock, reported by someone close to the situation, told to Reuters. This fund is noted to be the first hedge fund to focus on one sole entity. Reportedly, the firm intends to use the investor’s funds to short the stock of a not-yet-released public stock.
Adrangi’s firm has an established track record for selling shares of stocks short, which can be a risky business. Some companies they bet against recently are Zafgen, a pharmaceutical corporation working on antiobesity drugs and Sage Therapeutics, also a drug company.
Earning his Bachelor of Arts in Economics from Yale University, Adrangi went on to a career at Deutsch Bank, where duties included performing high yield and leveraged loan/debt financing transactions. Also using his expertise at Chanin Capital Partners, where he advised creditor committees in bankruptcy including out-of-court restructuring events and assignments. Tasks involved serving creditors of distressed and bankrupt businesses, financial institution debt holders, bondholder committees plus preferred equity committees.
After working Chanin Capital Partners he spent several years with Longacre Management, a multi-billion-dollar distressed debt hedge fund, providing research and investment analyst in equity and credit funds.
Mr. Adrangi, as Chief Investment Officer, has actively participated in all areas of this smaller firm’s creation as a managing partner and founder. Continuously seeking to provide management of Kerrisdale Capital by carefully evaluating changes in the market driven by special events, in addition to his focus on longer term value corporations and selling short. Publishing research may continue to be a part of materials offered along with his expertise handling of this unique firm.
Learn More: www.linkedin.com/in/sahm-adrangi-3548541